Hawaii Small Business Loan Leading to Big Island Jobs

Over $1 million in federal funding has recently been made available for Hawaii small business loans, leading to an increase in big island jobs.

The Hawaii Congressional delegation announced in mid-October that the Economic Development Administration will allocate $1,015,000 in federal funding to the Feed the Hunger Foundation. This is meant to establish a new Revolving Loan Fund that provides loans to new and expanding small businesses in Hawaii.

This federal funding is expected to create and retain 120 jobs on the island and should help expand Hawaii’s agricultural job market.

“Investing in our local agriculture industry, along with expanding access to fresh, nutritious food, is crucial to improving the health and wellbeing of people all across Hawaii and decreasing our reliance on costly food imports,” Rep. Tulsi Gabbard told BigIslandNow.com. “This funding will bring jobs and investment to our local farmers and small business owners working towards a more sustainable, food-secure Hawaii.”

With many benefits to be had from this funding, including the development of a growing, self-sufficient food system in Hawaii, as well as an increase in access to locally sourced and healthy food, Feed the Hunger Foundation couldn’t be more appreciative for this gracious offering.

“We’re thrilled this grant will support the creation and retention of 120 jobs, and generate $4 million in private investment,” said Patti Chang, president and CEO of Feed the Hunger Foundation. “We are delighted to be part of a movement in Hawaiʻi building food security, and are honored to have provided more than $1.6 million in small loans ranging from $3,000 to $200,000 to Hawaiʻi businesses such as Waimanalo Co-op Market, Naked Cow Dairy, Paradise Meadows and to farmers in the Waimea Homestead Association. We are grateful for the tireless work of Gail Fujita and the entire EDA Team, along with our partners, the hardworking local farmers and entrepreneurs.”

Based in Honolulu, Feed the Hunger Foundation strives to improve communities by providing the support, resources and technical assistance to help food businesses thrive.

This investment by the Economic Development Administration is likely to have an immediate impact on Hawaii’s job market and the expansion of small businesses throughout the state.