Hub Coworking Hawaii

Hawai‘i's Best Coworking Space

Nam Vu

Comprehensive COVID-19 Emergency Loans & Grant Options

*Updates to this blog will be typed in RED. This post was last updated 4/16/20

The Impact Hub Honolulu team has been working hard to comb through the fury of Small Business Administration (SBA) loans, grants and unemployment insurance opportunities for small businesses, independent contractors, non profits, and self employed during this COVID-19 pandemic. The Coronavirus Aid, Relief, and Economic Security (CARES) Act has helped push monies for the small businesses and individuals who are furloughed  or unemployed.

Below are summaries and links of: 1) SBA Grants and Loans for COVID-19, 2) Unemployment Insurance Options, 3) Employee Retention Payroll Tax Credit and 4) Payroll Tax Deferral for Employers

1.SBA GRANTS AND LOANS FOR COVID-19

  • If you are a small business and looking to furlough or layoff employees completely so they can receive unemployment insurance and save on payroll costs, weigh the option of maintaining them on payroll in order to apply for the Paycheck Protection Program (PPP) described in the table below.
  • All individuals, small businesses, non profits, self employed and sole proprietors can apply for the Economic Injury Disaster Loan (EIDL) HERE and receive $10,000 within days. Update 4/16/20: SBA is giving a grant of $1,000 per employee to each small business up to $10,000. These funds can be used for payroll, rent, utilities and mortgage payments.
  • The SBA has a Google Folder that is open to the public HERE.
  • EIDL Loan Update: If you applied before March 30 and haven’t received a loan number, follow up with SBA by calling the info line at 1-800-659-2955. (4/6/20)
  • Typically SBA EIDL respond within 3 days, Expect delays (4/6/20)

Complete SBA Loan and Grant Comparison Table (Link)

Helpful Links:

US Chamber of Commerce PDF on the SBA PPP , Office of US Senator Brian Schatz on SBA PPP

Local HI Employment Lawyers Info (BrainGain) , All Save HI Jobs and Biz Webinars ,

Central Pacific Bank PPP App , American Savings Bank PPP App, First Hawaiian Bank PPP App, BOH PPP App

2. UNEMPLOYMENT INSURANCE OPTIONS FOR ALL 

The CARES Act allows the Department of Labor support the Unemployment Insurance  (UI) program with additional compensation. Remember, that if you are a small businesses with employees you will need to rehire them to maintain your average number for payroll in order to receive the PPP grant listed in the table above.

  • UI has been expanded its eligibility for Hawai’i residents. In other words, more people can receive UI than before.
  • Residents receive an additional $600 per week on top of what they would get for UI payments until July 31, 2020
  • UI benefits have been expanded for a longer duration of 39 weeks

Links:

UI Updates from Office of U.S. Senator Brian Schatz  (PDF Version HERE)

Apply for State of Hawaii Unemployment Insurance HERE and Benefits Estimator

Simplicity HR COVID-19 General Website: See Employee UI FAQs , See Employer UI FAQs

3. Employee Retention Payroll Tax Credit

The CARES Act created a tax credit that applies to small businesses as another option for those that do NOT participate in the PPP as mentioned above and keep their employees on payroll.

  • For employers with 100 or fewer full-time employees, they may claim a credit for wages paid to all of their employees, up to $10,000 a person.
  • Employers are eligible if they have been fully or partially suspended as a result of a government order (such as mayor and governor orders to stay at home), or if they experience a 50 percent reduction in quarterly receipts as a result of the crisis.
  • The credit can be claimed against the business or non-profit’s quarterly payroll tax liability and is fully refundable to the extent of excess.

Links:

Office of U.S. Senator Brian Schatz 

4. PAYROLL TAX DEFERRAL FOR EMPLOYERS 

CARES Act allows for employers to defer, or not pay payroll taxes for the rest of calendar year 2020, and have them pay later when things are “up & running” again. Employers will have to pay in 2 equal payments: at the end of 2021 and the end of 2022.

  • You cannot participate in this deferral if you receive a SBA PPP loan and or grant as mentioned above.

 

DETAILED SUMMARIES DONE BY OTHERS (Updated 4/9/20)

Guide to COVID Relief Programs PDF (ProService)

Save Hawaii Jobs and Business Resource PDF (Updated Regularly)

COVID-19 Update

Aloha Hub Members,

As things are developing very rapidly, we wanted to update you on what we are doing here at Impact Hub Honolulu.

It has been amazing to see the community that has been built here at the Hub where we all truly care about each other’s well being both professionally and personally.  It is with this caring for the community that we put these measures and recommendations into place.

1. We recognize that some of you may need to come in for meetings, or quiet space or other reasons.  For now, we will continue to operate but we will remain flexible and ask for your understanding and support if additional changes need to be made.
2. Many people are practicing social distancing (keeping a distance of at least 3 feet) which can look like working from home a bit more. If your home situation allows it, we suggest you try it out. It’s about keeping all of us safe.  I know, we will miss you too, but we need to take care of ourselves as well as others.
3. We are asking everyone to not shake hands or exchange kisses.  No need to feel guilty about not shaking hands with someone and no need to feel offended if someone does not shake your hand.  With what we know now about onset of symptoms and people having it without displaying any symptoms, this is the best practise.  I will be either doing the one-handed Buddhist greeting or the full on two-handed Namaste.
4. We will be removing the dish drying rack.  Please rinse dishes and put them in the dishwasher.  We will be running the dishwasher more frequently.  If the dishwasher is running (blue LED’s on) please rinse the dishes and leave them in the sink.  We’ll put them in the dishwasher when it is available again.
5. Please wash your hands thoroughly and often.  20 seconds is how long it takes you to sing Happy Birthday.  It’s ok to waste some water for now.  Soap and water is perfect.  Biologists say regular soap alone makes the virus explode.  This is good practise all the time anyways.
6. Please be mindful of others and be aware that you may be an asymptomatic carrier.  You may be strong and healthy and from what we have heard may be mildly affected.  However, it is the elderly and others who are more at risk that we need to think about and help to prevent them from getting the illness.

Lastly, we ask for your support during this time.  We love our community and feel that everyone looks after one another.  During this period, we ask for your support to minimize the affects to our business to help us weather this storm.

If you can, please continue to support us by not cancelling your membership.  We understand if you need to, or if corporate tells you to.  No explanations needed and no judgements made.

Mahalo,

Nam

Please refer to these websites for additional information:

Hawaii Department of Health website
https://health.hawaii.gov/docd/advisories/novel-coronavirus-2019

Center for Disease Control (CDC)
https://www.cdc.gov/coronavirus/2019-ncov/index.html

World Health Organization
https://www.who.int/emergencies/diseases/novel-coronavirus-2019

Official Impact Hub Honolulu COVID-19 Statement

Aloha Impact Hub Honolulu members. We want to share with our community some preventative actions that we are taking in light of the global Coronavirus (COVID-19) disease that is in the news.  

The amazing Work Now Hawaii team who manages the custodial services for Impact Hub Honolulu has shared with us what they are already doing and what additional measures they will be adding. 

  • Bathroom fixtures and floors, the kitchen tables and counters, and the common area tables throughout the Hub are cleaned and sanitized daily using Virex 256, a hospital grade disinfectant. 
  • Ensure that the hand soap in the dispensers are always stocked for hand washing.
  • Added wiping down all front door and meeting room door knobs, and refrigerator handles to the disinfectant wipe down regiment.
  • Added a hand sanitizer station at the front desk. We will add more stations when we can get our hands on more.

Based on the Hawaii Department of Health website and the Center for Disease Control (CDC) websites for COVID-19 prevention here is what you should do: 

  • STAY home if you feel ill. 
  • WASH your hands often with soap and water for at least 20 sec, especially after going to the bathroom; before eating; and after blowing your nose, coughing, or sneezing. 
  • COVER your cough or sneeze with a tissue, then throw the tissue in the trash.
  • AVOID social contact for 14 days if you have traveled to mainland China to monitor your health. 
  • GET your flu shot. 

Here are some good links to learn more about COVID-19

Thank You for your Support! 

By George Yarbrough

We asked you to invest in us… and you did! 

We asked you to share with your friends… and you did! 

We asked you to come to our events… and you did!   

And for all of your support, our whole team says THANK YOU. 

Our Wefunder campaign is now officially closed, and we are SO happy with the amount of time, energy, and money you invested in us. 

Over our three month Wefunder investment campaign, we raised$172,354, which will be utilized for the final buildout of our new Hawaii Kai location, slated to open in March 2019. 
 

Our overall goal for both of our locations (and anything we build in the future) is to help you do what you do best, and to support our growing network of entrepreneurs, startups, and small businesses. Thank you for being a part of it! You can still see the campaign details here if you want to learn more about why we chose Wefunder or about their innovative investment model. 

Stay tuned to our Instagram and Facebook to see the buildout as it happens and share your thoughts as we complete the space.

One Week Left to Invest in Impact Hub HNL!

By Nam Vu

Over the past two months we’ve been surprised and delighted with the amount of support that our friends, Members, and partners have shown for our Wefunder investment campaign.

Not only did you invest $150,000 into our growth, you supported us via social media, by telling your friends, by coming to our Hawaii Kai location sneak peek event, and so much more. All of your support tells us we’re on the right path towards building a more interconnected Hawaii with our new locations. These new locations will help us expand our network of resources for entrepreneurs, startups, freelancers, and the broader business community, fostering #StartupParadise here in the islands. Thank you for being a part of it.

We have just about a week left on our Wefunder campaign – so this is the crunch time. If you have not yet been able to invest, now is the time to do so. We are grateful for any level of investment you can offer (the minimum is $100). The funds will be used to build out our new Hawaii Kai location and beyond.

If you cannot invest at this time (or if you want to give us some additional help), please help us out by posting on social media to let other people know about the offering. Tap the following message onto your favorite social media platform, be sure to tag us (@ImpactHubHNL), and help us get the word out about our big plans.

Invest in Hawaii’s largest coworking space! @ImpactHubHNL is raising funds on Wefunder, and the goals are💥BIG💥 (11 locations across the islands 🌴 with 1 membership! ✅) Anyone can invest in a more interconnected network of Impact Hubs– learn more:http://bit.ly/impacthubhnl 💰

Thanks so much for your ongoing support of our team and our community!

Interview with Meli James of Mana Up

By George Yarbrough

We are so excited to be a part of the #startupparadise that is Hawaii. We share a vision with many accelerators, businesses, organizations, and individuals to expand business opportunities here in the islands, and beyond.

One such visionary, whom we are proud to call a friend and a partner, is Meli James. She’s the President of the Board of Directors of the Hawaii Venture Capital Association and the Founder of Mana Up, an accelerator for packaged goods and brands in Hawaii. She’s a leader in the business community here in Honolulu, and she had some awesome thoughts to share during a recent conversation at her offices in Honolulu.

Meli understands that connecting Hawaii’s business leaders at locations like Impact Hub HNL is vital to the growth of our startup ecosystem, and is helpful to connect entrepreneurs with each other. Along with alternative workspaces, she’s excited to see the type of investment campaign we’re running. She says these different types of investment – beyond the traditional bank loan or angel investors– can create a lot more opportunity in the islands.

Take a peek at the video below to learn more about her thoughts!