Oahu businesses with fewer than 30 employees will be eligible for grants up to $10,000 under a city program announced today.

The City and County of Honolulu intends to use $25 million in federal coronavirus relief aid for the grant program that could be expanded with another $25 million if it works well.

Mayor Kirk Caldwell announced the program at a news conference and said an online application process is slated to open Monday.

Other eligibility criteria include a requirement for businesses to have a commercial address and no more than $1 million in annual revenue.

More information will be available at oneoahu.org.

Four Hawaii credit unions will process loan applications for the city. They are Hawaii State Federal Credit Union, Honolulu Federal Credit Union, Aloha Pacific Federal Credit Union and Hawaii USA Federal Credit Union.

City officials have been allocated $387 million from the federal government’s $2.2 trillion Coronavirus Aid, Relief and Economic Security package established in March.

Watch the news conference above.