SACRAMENTO, Calif. – Today, the U.S. Small Business Administration and Operation HOPE, a key leader assisting individuals with financial literacy, access to capital and financial disaster recovery, announced the opening of their first Business Resource and Assessment Center in Kihei to assist small businesses impacted by the Maui wildfires that began on Aug. 8. The new center will provide a variety of public and private sector assistance, in addition to disaster support.
The Business Resource and Assessment Center, which is located near the current Business Resource Center, will provide a one-stop location for businesses to access a variety of specialized help. SBA customer service representatives will be available to meet individually with each small business owner to explain how an SBA disaster loan can help finance their recovery. No appointment is necessary. All services are provided free of charge.
MAUI COUNTY
Business Resource and Assessment Center
Hawaii Technology Development Corp.
Maui Research Technology Center (MRTC)
Building #A, Ste. 202
590 Lipoa Pkwy.
Kihei, HI 96753
Opens at 8 a.m. Friday, Sept. 22
Mondays – Fridays, 8 a.m. - 5 p.m.
Saturdays, 10 a.m. - 2 p.m.
So far, SBA has approved more than $95 million in federal low interest disaster loans for Hawaii businesses and residents impacted by Maui wildfires.
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, 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.
SBA representatives continue to be available at federal/state disaster recovery centers in Maui and the following SBA recovery centers to provide information on SBA disaster loans on the dates and times indicated.
MAUI COUNTY
Business Recovery Center
Hawaii Technology Development Corp.
Maui Research Tech Center (MRTC)
Building #A, Ste. 119 (Conference Rm.)
590 Lipoa Pkwy.
Kihei, HI 96753
Mondays – Fridays, 8 a.m. – 5 p.m.
Saturdays, 10 a.m. – 2 p.m.
MAUI COUNTY
Portable Loan Outreach Center
Maui Resorts Rentals
30 Halawai Dr.
Lahaina, HI 96761
Mondays – Saturdays, 9. a.m. – 5 p.m.
HONOLULU COUNTY
Business Recovery Center
Hawaii Foreign–Trade Zone No. 9
521 Ala Moana Blvd., Ste. #201, Pier 2
Honolulu, HI 96813
Mondays – Saturdays, 9 a.m. – 6 p.m.
KAUAI COUNTY
Business Recovery Center
Kaua'i Federal Credit Union's new community space in Kapa'a
(former Otsuka Furniture building)
1624 Kuhio Highway
Kapa’a, HI 96746
Mondays - Saturdays, 9 a.m. - 6 p.m.
Homeowners, renters and business owners from Maui who have been displaced by the Maui wildfires, and small businesses in all of Hawaii that have working capital needs caused by the Maui wildfires, may also visit the centers to meet with SBA representatives and apply for disaster loans.
For Maui homeowners SBA offers disaster loans up to $500,000 to repair or replace their damaged primary residence. 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 and 2.375 percent for private nonprofit organizations with terms up to 30 years. Loan amounts and terms are set by 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. SBA disaster loan repayment begins 12 months from the date of the first disbursement.
Applicants may apply online, receive additional disaster assistance information and download applications at https://www.sba.gov/hawaii-wildfires. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA 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 Nov. 9, 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.