Community-Based Economic Development

Helping communities by helping businesses

 

CBED logo - community-based economic developmentMission Statement

Successful community-based economic development integrates viable economic projects to promote a community’s vision for its future health and quality of life.

The CBED program provides training and capacity building opportunities to promote, support, and invest in community-based development projects that result in measurable economic impact. 

What we do – Loans to help businesses

CBED offers micro-loans up to $50,000, to eligible small businesses that support economic development in their communities.  We strive to help small businesses to develop viable, sustainable business ventures that serve local needs and are compatible with the vision, character and cultural values of their communities.

The CBED program can support a broad range of small businesses including:

  • Agricultural producers
  • Manufacturing businesses
  • Health/organic food stores
  • Hydroponics and aquaculture businesses

Loans may be used for:

  • Start-up costs and working capital
  • Construction or improvement of facilities
  • Purchase of equipment
  • Payment of production and marketing expenses including materials, labor and services

Term:  Up to 10 years

Interest Rate:  Simple interest at 3 – 6% per annum

Is my organization or business eligible for a CBED Loan?

Eligibility Requirements:

  • Must be a registered business in the State of Hawaii
  • Show links with the community
  • Loan proceeds must result in an economic development outcome
  • Show turn-down from two (2) financial institutions

How do I get an application?

Please contact:

Community Based Economic Development Program
Business Development & Support Division
State of Hawaii Department of Business, Economic Development and Tourism
P.O. Box 2359
Honolulu, HI 96804

E-mail: DBEDT.CBED@hawaii.gov
Ph: (808)-587-2757
Fax: (808)-586-2589

What we do – Technical Assistance

Small Business Fairs
Each year the CBED program within DBEDT organizes and sponsors the Hawaii Small Business Fair with a number of partner organizations.  The half day fair features over 24 workshops and over 35 exhibitors providing support services to start-ups and entrepreneurs.  CBED also sponsors mini-small business fairs at selected conferences such as the Council for Native Hawaiian Advancement’s Annual Convention.  More information can be found at Hawaii Small Business Fair.

Opportunity Zone Program
The recently passed Federal Tax Cuts and Jobs Act of 2017 authorized a community economic development program called the Opportunity Zones Program. This initiative provides incentives for investors to re-invest realized capital gains into Opportunity Funds in exchange for temporary tax deferral and other benefits. The Opportunity Funds are then used to provide investment capital in certain low-income communities, i.e., Opportunity Zones.   

The CBED Program has been involved in outreach and stakeholder meetings on this new initiative.  CBED is also promoting Hawaii Opportunity Zones to potential Opportunity Funds and assisting in technical assistance to get potential projects “investment ready.”  For more information go to Opportunity Zones Program.

Statute and Administrative Rules

Annual Reports

To access CBED annual reports, please click here:

For older reports, please see: http://dbedt.hawaii.gov/overview/annual-reports-reports-to-the-legislature/

CBED Advisory Council Members

RACHEL JAMES

Oahu
Exp: 06/30/2021

JOANN INAMASU

Maui
Exp: 06/30/19

DENNIS T. LING

Representative for Director Mike McCartney
Department of Business, Economic Development. & Tourism

DBEDT Representative

JAMES PATTERSON

Representative for Chair Colette Y. Machado
Office of Hawaiian Affairs

OHA Representative

NANCY ELVIRA LO

Oahu
Exp: 06/30/2019

KALEOKALANI KURODA

Oahu
Exp: 06/30/2019

DEAN M. MATSUKAWA

Representative for Chairperson Phyllis Shimabukuro-Geiser
Department of Agriculture

 DOA Representative

JANE HORIKE

Hawaii
Exp: 06/30/2021

ERNEST MATSUMURA

Hawaii

Exp: 06/30/2022

VACANT

Kauai