Hawaii gets $4.5M grant to aid small businesses

Hawaii has received a $4.5 million federal grant from the U.S. Treasury’s State Small Business Credit Initiative funds to help small businesses access the capital they need to grow and create jobs.

The final distribution of the grant brings the total to $13.2 million in SSBCI funds that have been disbursed to the Hawaii Strategic Development Corp. to support businesses and the local economy.

"These funds have helped Hawaii catalyze access to capital for the innovation businesses that will drive the future growth of our economy," said Gov. Neil Abercrombie.

HSDC is investing the funds alongside private investors to establish financing for Hawaii’s startup companies at various stages of business development.