SBA continues support in Maui after wildfires

SBA continues support in Maui after wildfires

Economics
Webp 4yn0rsxdqf4fxgdk92729rcehyrz
Isabel Casillas Guzman, Administrator | U.S. Small Business Administration

ORGANIZATIONS IN THIS STORY

LETTER TO THE EDITOR

Have a concern or an opinion about this story? Click below to share your thoughts.
Send a message

Community Newsmaker

Know of a story that needs to be covered? Pitch your story to The Business Daily.
Community Newsmaker

The U.S. Small Business Administration (SBA) has announced the continued availability of SBA Recovery Centers on Maui to assist small businesses, private nonprofit organizations, and residents affected by wildfires from August 9 to September 30, 2023.

While FEMA will end its in-person staffing at two public-facing recovery centers on June 18 and July 3, SBA customer service representatives will remain available at the Recovery Centers in Kahului and Lahaina. They are ready to answer questions and assist with the disaster loan application process. Walk-ins are welcome, but appointments can also be scheduled in advance at appointment.sba.gov.

The open locations serving survivors include:

- Council for Native Hawaiian Advancement (CNHA), located at 70 E. Kaahumanu Ave., Unit D-1, Kahului, HI 96732. Open Monday through Friday from 9:00 a.m. to 5:00 p.m.

- Maui Office of Recovery West at Lahaina Gateway, Unit 102-B (near Ace Hardware), located at 325 Keawe St., Lahaina, HI 96761. Open Monday through Friday from 8:00 a.m. to 4:30 p.m.

Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA stated that "SBA’s Business Recovery Centers have consistently proven their value to business owners following a disaster." He added that business owners could meet face-to-face with specialists who would guide them through the disaster loan application process and connect them with resources for recovery.

Businesses and nonprofits can apply for business physical disaster loans up to $2 million for repairing or replacing damaged real estate, machinery, equipment, inventory, and other assets. The Economic Injury Disaster Loan (EIDL) program is also available for small businesses and nonprofits impacted financially by these disasters but does not cover agricultural producers except small aquaculture enterprises.

Homeowners and renters may apply for loans up to $100,000 for personal property replacement or repair and up to $500,000 for primary residence repairs or replacements.

Interest rates are set as low as 4% for small businesses, 2.37% for nonprofits, and 2.50% for homeowners and renters with terms extending up to thirty years. Interest accrual begins eighteen months after the first loan disbursement date.

Applications can be submitted online via sba.gov/disaster or by contacting SBA’s Customer Service Center at (800) 659-2955 or emailing disastercustomerservice@sba.gov. Telecommunications relay services are accessible by dialing 7-1-1.

###

ORGANIZATIONS IN THIS STORY

LETTER TO THE EDITOR

Have a concern or an opinion about this story? Click below to share your thoughts.
Send a message

Community Newsmaker

Know of a story that needs to be covered? Pitch your story to The Business Daily.
Community Newsmaker

MORE NEWS