The Hawaii Emergency Management Agency is encouraging qualifying businesses to meet the Dec. 8, 2022, deadline to apply for assistance related to drought conditions in Hawaii, Kalawao and Maui counties.
The U.S. Small Business Administration (SBA) Economic Injury Disaster Loans are available to offset the economic injury caused by the drought.
“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 said in an SBA news release. “Economic injury assistance is available regardless of whether the applicant suffered any property damage.”
According to a release from Gov. David Ige’s office, loans of up to $2 million are available to qualifying small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations of any size. The loans carry interest rates of 2.94 percent for businesses and 1.875 percent for private nonprofit organizations, with a maximum term of 30 years.
The Hawai‘i Emergency Management Agency encourages qualifying businesses that need assistance to apply.
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