*Building our Future Young Entrepreneurs* In collaboration with the Building Industry Association of Hawaii (BIA), EDS Mary Dale of the SBA Hawaii District Office contributed to the BIA’s Apprenticeship Program by conducting a session on How to Start Your Business. Participants learned how to pitch their business ideas, perform market research, generate investment, developing a business plan, strategizing marketing and sales, and how to properly price a product or service.
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?? Congratulations to Wayne Inouye and the Hawaii Technology Development Corporation team on their award of an SBA Federal and State Technology (FAST) Partnership Program ?? SBA has just issued 49 grants up to $200,000 each to organizations supporting startups through specialized training, mentoring, and technical assistance. "At a time when we are seeing historic highs in our entrepreneurial activity with a small business boom, investing in America’s innovative startups is a top priority. America’s Seed Fund, powered by the SBA and fueled by 11 federal agencies’ SBIR and STTR programs, is the largest source of early-stage funding in the world. With FAST, we have now expanded our entrepreneurial ecosystem to nearly every state so that entrepreneurs with great ideas can invent it, commercialize it, and build it with America’s Seed Fund in every corner of America,” said SBA Administrator Isabel Casillas Guzman. FAST’s objective is to improve outcomes for underserved communities by increasing participation from woman-owned, rural-based, or socially or economically disadvantaged small businesses through the Small Business Innovation Research (SBIR) and the Small Business Technology Transfer (STTR) programs, which are known as America’s Seed Fund. This year, the FAST program increased the maximum funding available by 60% to expand the geographic footprint of FAST and increase engagement of underserved, geographic, and demographic innovators across the country. As a result, FAST awardee organizations will provide support across 48 states and Puerto Rico. FAST organizations work locally and provide person-to-person support and training that increases the probability of success for entrepreneurs and small businesses pursuing SBIR or STTR contracts and grants. #sbafast #innovation #hismallbusiness
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*SBA Lender Training on Neighbor Islands* To help lenders protect their SBA loan guaranties and maintain a thriving SBA loan program, EDS Mary Dale and LRS Mel Racadio of the SBA Hawaii District Office traveled to neighbor islands to discuss recent changes and updates on the fundamentals of SBA Lending. Top: American Savings Bank, Kauai. Front of group: Trini Abaya-Wright, VP, Business Relationship Manager II; L-to-R: EDS Mary Dale, LRS Mel Racadio, Wesley Pang, Rachel Sato, ?Jolyne Kurihara, Kelly Tagupa, Kira Seabury, Marty Boiser, Rhea McDowell, Nikki Langi & Matt Baker. Bottom left: First Hawaiian Bank, Kona Banking Center. L-to-R: Danielle Smith, Personal Banking Officer;?EDS Mary Dale; Koa Woolley, AVP & Banking Center Mgr;?LRS Mel Racadio. Bottom right: Gather Federal Credit Union, Kauai. L-to-R: Justin Ganaden, Business Banking Officer; Thomas Hilson, VP of Loans; EDS Mary Dale; LRS Mel Racadio; Jeris Lizama, Loan Supervisor.
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*Shaping a Brighter Economic Future for Maui* Comprised of influential community leaders spanning business, culture, economics, nonprofits, workforce development, and government, the Maui Economic Recovery Commission (ERC) embodies the spirit of collaboration and service as it aims to uplift Maui after the challenges of the 2023 wildfires. This dynamic coalition convened its final in-person meeting to listen, learn, and exchange recommendations, proposals, and projects for the County of Maui to maximize federal funding and community support. DDD Hazel Beck of the SBA Hawaii District Office (far left) participated with the aim to help empower local residents to shape their community’s recovery.
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Congratulations to Hawaii’s 2024 Growth Accelerator Fund Competition (GAFC) Stage Two winner, XLR8HI. The winner is among forty-four accelerator partnerships which received between $50,000 and $150,000 each to advance their work supporting small businesses and startups in STEM and research and development (R&D) across priority areas like national and economic security, domestic manufacturing and production, and sustainability and biotechnology.? GAFC Stage One prizes emphasized ecosystem network building, while Stage Two efforts focus on the enhanced support that can be provided to small businesses and startups through these Growth Accelerator Partnerships. These partnerships span public, private, nonprofit, and academic institutions, fostering collaboration across industries and geographies, with lead awardees headquartered in 34 U.S. states and territories, including Washington, D.C., and Puerto Rico, and assisting innovators nationally. #growthacceleratorfund #innovation Tarik Sultan Omar S. Sultan?
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Congratulations to our partner State of Hawaii Department of Business, Economic Development, and Tourism's HISTEP Program on its award of $525,000 in SBA State Trade Expansion Program (STEP) grant funding. Under STEP, small businesses can expand into foreign markets through qualifying exporting activities including participating in foreign trade missions and market sales trips, designing international marketing campaigns, participating in export trade show exhibits, and attending training workshops. Funding for such activities is underwritten by the STEP program. Hawaii exporters and prospective exporters can find out more about at the HISTEP home page: https://lnkd.in/gwv2iBK #sbastep #smallbusinessexports
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Outreach to the Neighbor Islands is essential to ensure that the SBA Hawaii District Office serves all Hawaii residents and strengthens partnerships throughout the state. Mary Dale and Melitajean (Mel) Racadio visited with SBDC Center Services Associate Alexandra Scholl in Kauai. Team SBA also visited First Hawaiian Bank AVP Larry Dressler and Banking Center Manager John Taylor in Lihue while on Kauai. Mary and Mel also traveled to Kona for a collaborative effort. They partnered with SBDC Center Director Ken Hoyle and First Hawaiian Bank Business Banking Officer Alan Pak on a financing workshop for underserved communities in the area. #ecosystem
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Team SBA visited Central Pacific Bank at its downtown Honolulu office this week. The meeting served to reinforce the close partnership between the bank and SBA in helping deliver capital to new and growing small businesses in the Aloha State. Below, from left: SBA teammates Melitajean (Mel) Racadio and Mary Dale; CPB Group SVP Robert "Bob" Yee; Acting Director Mike Arriola; CPB Executives Susan Utsugi and Sharene Urakami-Oyama.
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SBA Hawaii is out and about, welcoming District Counsel Susan Chang and SBA Pacific Regional Administrator Elmy Bermejo back to Hawaii. SBA leaders including Acting Director Mike Arriola also met with Shawn Higa of HEDCO, the state's largest 504 lender. Susan starts her assignment as Hawaii District Counsel following the recent retirement of Jayson Pang from the position.
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Team SBA is in Kona this week participating in the 2024 Native Hawaiian Convention. Below, from left: SBA Asst. Administrator for Native American Affairs Jackson Brossy, SBA NC Deputy Hazel Beck, INPEACE Program Director Lisa Pakele, Maui Chamber President Pamela Tumpap, and SBA Region IX Administrator Elmy Bermejo.
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