1. Short title This Act may be cited as the Healing and Economic Advancement for Local businesses in Maui Act or the HEAL Maui Act . 2. Emergency EIDL grants (a) Definitions In this section— (1) the term covered entity means— (A) a business with not more than 500 employees; (B) any individual who operates under a sole proprietorship, with or without employees, or as an independent contractor; (C) a cooperative with not more than 500 employees; (D) an ESOP (as defined in section 3 of the Small Business Act ( 15 U.S.C. 632 )) with not more than 500 employees; or (E) a tribal small business concern, as described in section 31(b)(2)(C) of the Small Business Act ( 15 U.S.C. 657a(b)(2)(C) ), with not more than 500 employees; (2) the term covered period means the period beginning on August 8, 2023, and ending on May 10, 2024; (3) the term eligible entity means a covered entity the principal office of which is located on Maui and not fewer than 35 percent of the employees of which reside on Maui; and (4) the term Hawai’i Wildfires means wildfires occurring in Hawai’i during the period beginning on August 1, 2023, and ending on September 30, 2023. (b) Eligible entities During the covered period, in addition to small business concerns, private nonprofit organizations, and small agricultural cooperatives, an eligible entity shall be eligible for a loan made under section 7(b)(2) of the Small Business Act ( 15 U.S.C. 636(b)(2) ). (c) Terms; credit elsewhere With respect to a loan made under section 7(b)(2) of the Small Business Act ( 15 U.S.C. 636(b)(2) ) during the covered period in response to the Hawai‘i Wildfires, the Administrator shall waive— (1) any rules related to personal guarantee on advances and loans of not more than $200,000 during the covered period for all applicants; (2) the requirement that an applicant needs to be in business for the 1-year period before the disaster, except that no waiver may be made for a business that was not in operation on August 8, 2023