Those still feeling the impact of last year’s Kona low storms are reminded the application deadline for U.S. Small Business Administration Economic Injury Disaster Loans is Oct. 28. The loans are available to for those injured by the severe storms, flooding, and landslides in Maui and Kalawao counties and the City and County of Honolulu from Dec. 5-10, 2021.
“These loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact,” Tanya N. Garfield, director of the SBA’s Disaster Field Operations – West, in a press release from the Gov. David Ige’s office. “Economic injury assistance is available regardless of whether the applicant suffered any property damage.”
Loans of up to $2 million are available to meet working capital needs caused by the disasters. The loans, according to the release, are available to “qualifying small nonfarm businesses, small agricultural cooperatives, and small businesses engaged in aquaculture, and most private nonprofit organizations of any size.”
According to the release, the loans carry have interest rates of 2.83 percent for businesses and 1.875 percent for private nonprofit organizations, with a maximum term of 30 years.
Applicants can learn more and find forms on the SBA website. They also may call (800) 659-2955 or email disastercustomerservice@sba.gov for more information; people who are deaf, hard of hearing, or have a speech disability may 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.