CPB COVID-19 Weekly Update 4-24-2020

Welcome to our weekly customer newsletter.

Hawaii continues to lead the country as one of a handful of states with the lowest numbers of COVID-19 cases. We are doing a great job with our stay-at-home/work-from-home orders. Starting Saturday morning we can once again enjoy our parks, which are being reopened for exercise. There are even optimistic discussions of some businesses being allowed open, with limitations, before May 31.

We created this newsletter because COVID-19 is a pandemic that affects everyone – some more drastically than others – and we wanted this communication to be an essential resource for you. We encourage you to forward this to others who may need it.

For up-to-date information visit cpb.bank/COVID-19

Mahalo and stay well.

CPB leads Paycheck Protection Program loan funding for Hawaii businesses

We’re proud to be Hawaii’s leader in processing 36.5% of all Paycheck Protection Program (PPP) loans for the state. Hawaii ranked #4 in PPP loans originated nationwide, covering 78% of Hawaii’s eligible payroll, as shown in this Bloomberg report.

The government is working on a plan to add $310 billion to the PPP. Initially, $349 billion was available but after just 14 days, the funds ran dry.

Important notice for PPP replenishment
President Trump signed a bill today appropriating more funds. Please be on the lookout for timing of when to apply. Updates will be posted at cpb.bank

For small businesses that didn’t previously apply but want to now, gather the required documents listed with application instructions to ensure you’re ready to apply quickly. See our FAQs about the PPP Process.

Now you can pay it forward on Instagram and #KeepHawaiiCooking! The next phase of the wildly successful #KeepHawaiiCooking campaign is dubbed Mahalo Meals. CPB Foundation will be picking 10 frontline heroes per week and delivering 30 Mahalo Meals to the team they work with to show our appreciation for keeping Hawaii safe and healthy.

Find out how to nominate a frontline hero at KeepHawaiiCooking.com

Your participation in the #KeepHawaiiCooking campaign is doing so much to help sustain local small businesses, their purveyors, their employees, and more.

Ross Okuhara, CPB customer and owner of En Fuego Grill & Catering (Kapolei) shared a Mahalo video with us. He describes how your support infused energy and hope into Hawaii’s businesses, which is helping business owners weather some of the toughest times they’ve ever experienced. You can view it here.

Payments to Hawaii’s unemployed will receive federal boost

Eligible Hawaii residents receiving unemployment benefits may start to see an extra $600 in federal payments added to their base payments from the state. The Star-Advertiser reported distribution started yesterday (April 23).

The volume of Hawaii’s unemployment claims is unprecedented: 244,330 recorded from early March through mid-April. So, it’s no surprise that there is a backlog of claims and claimants with questions that have gone unanswered.

To help residents get the money that is greatly needed to cover expenses, more than 100 state employees have volunteered to help speed up the claims process.

In addition, the Department of Labor has launched new email addresses to better assist those needing to backdate their claim, those with questions about a disqualified claim, or those needing language assistance. Email contact information is available on the State of Hawaii Unemployment Insurance website. Those that successfully filed a claim but need to know the status can find out at the newly launched Unemployment Benefits Claim Status website.

If you are struggling to pay your CPB loan or residential mortgage, or if you need extra cash on-hand, we have relief programs available. For those needing additional rent or utilities assistance, Aloha United Way launched a COVID-19 Rent & Utility Assistance program. Call 211 or visit AUW.org for details.

Resources for essential workers in need of child care

Essential workers who are need of child care services can link to this Star-Advertiser article for a running list of available providers. The list is updated regularly and is being compiled by People Attentive to Children (PATCH), a local nonprofit organization.

PATCH reports that many of their calls are child care inquiries and that there is an urgency in sharing this information as quickly and widely as possible.

CPB is not associated with this initiative but is sharing this resource to help support our community.

If you have questions or concerns regarding your accounts, contact us directly.