SACRAMENTO, Calif. – Today, the U.S. Small Business Administration’s Disaster Field Operations Center-West announced the opening of its Portable Loan Outreach Center (PLOC) to meet the needs of businesses and individuals who were affected by the Maui wildfires that began August 8. The center will be open Friday, Sept. 8, in Lahaina. Customer service representatives will be on hand at the PLOC to assist business owners, homeowners, and renters with questions about the SBA Disaster Loan Program, as well as answering questions about the application process and assisting with starting an application.
“SBA customer service representatives will be on hand to answer questions about the SBA’s disaster loan program, explain the application process and help each business owner and resident complete their electronic loan application,” Lusk said.
The center will be open on the days and times indicated. No appointment is necessary.
MAUI COUNTY
Portable Loan Outreach Center
Maui Resorts Rentals
30 Halawai Dr.
Lahaina, HI 96761
Opens at 9 a.m. Friday, September 8
Mondays - Saturdays, 9. a.m. – 5 p.m.
SBA continues to provide one-on-one assistance to disaster loan applicants at the federal-state Disaster Recovery Centers (DRC) and SBA’s Business Recovery Center (BRC) in Maui to explain the SBA’s disaster loan program and help business owners and residents apply for disaster loans.
Homeowners, renters and business owners from Maui who have been displaced by the Maui wildfires, and Oahu based small businesses that have working capital needs caused by the Maui wildfires, may also visit the following center to meet with SBA representatives and apply for disaster loans.
HONOLULU COUNTY
Business Recovery Center
Hawaii Foreign - Trade Zone No. 9
521 Ala Moana Blvd., Ste. # 201, Pier 2;
Honolulu, HI 96813
Mondays - Fridays, 9 a.m. - 6 p.m.
Saturdays, 10 a.m. – 2 p.m.
Maui businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. SBA can also lend additional funds to businesses and homeowners to help with the cost of improvements to protect, prevent or minimize disaster damage from occurring in the future.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations in all Hawaii counties, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the Maui wildfires. Economic injury assistance is available regardless of whether the business suffered any property damage.
The SBA’s disaster loans are available up to $500,000 to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $100,000 to repair or replace damaged or destroyed personal property, including personal vehicles.
Interest rates are 4 percent for businesses, 2.375 percent for private nonprofit organizations and 2.5 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition. Interest does not begin to accrue until 12 months from the date of the first disaster loan disbursement. The SBA’s disaster loan repayment begins 12 months from the date of the first disbursement.
To be considered for all forms of disaster assistance, survivors must first register with the Federal Emergency Management Agency at www.disasterassistance.gov.
Applicants may apply online, receive additional disaster assistance information and download applications at https://www.sba.gov/hawaii-wildfires. Applicants may also call the SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on the SBA’s disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The deadline to apply for property damage is Oct. 10, 2023. The deadline to apply for economic injury is May 10, 2024.
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About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.
Disaster press release
HI 18061-05