HEAL Maui Act

The HEAL Maui Act (HR 7061) provides emergency financial assistance to Maui businesses and individuals affected by the 2023 wildfires. It creates a $1 billion emergency grant program offering up to $15,000 per eligible business with simplified applications (no tax returns required) and a new Paycheck Protection Program with 100% SBA guarantees, no personal guarantees required, 4% interest rate maximum, and 6-12 month payment deferrals. The bill waives standard requirements like needing one year of business operation before the disaster and allows loan forgiveness for wildfire-related expenses including payroll, mortgage payments, rent, and utilities. Eligible entities include Maui-based businesses with 500 or fewer employees, sole proprietors, independent contractors, and nonprofits with at least 35% of employees residing on Maui, with programs available through May 10, 2024.