SACRAMENTO, Calif. – The U.S. Small Business Administration today announced its SBA Recovery Centers in Hawaii remain open to provide a wide range of services to businesses and individuals impacted by the wildfires, including high winds. The centers are open as indicated below.
“At this stage of the recovery process, the emphasis for assistance is to meet the long-term needs of businesses and individuals that were impacted by wildfires, including high winds that occurred Aug. 8 ‑ Sept. 30, 2023,” said Francisco Sánchez Jr., associate administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration. “The centers will continue to provide a one-stop location for businesses and individuals to access a variety of specialized help. SBA customer service representatives will be available to meet individually with each person,” he added. No appointment is necessary. All services are provided free of charge.
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MAUI COUNTY |
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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 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 of any size, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage.
SBA disaster loans up to $500,000 are available 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.
Applicants now need to provide a written justification for physical disaster loans; however, EIDL applicants will not need to provide a written justification through November 9.
Interest rates can be as low as 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 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 18 months from the date of the first disbursement.
Applicants may apply online and receive additional disaster assistance information 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.
A link to recovery centers can be found hereand at: https://lending.sba.gov/search-disaster/?disaster=HI-00073.
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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 https://www.sba.gov/hawaii-wildfires.