SACRAMENTO, Calif. – Three Disaster Recovery Centers will convert to U.S. Small Business Administration Disaster Loan Outreach Centers. Beginning Monday July 9, the centers in Kailua and Kapaa will operate as SBA Disaster Loan Outreach Centers followed by the center in Koloa on Thurs., July 12.
“At this stage of the recovery process, the emphasis is to meet the long-term needs of businesses and individuals that were impacted by the severe storms, flooding, landslides and mudslides that occurred April 13 – 16, 2018,” said SBA’s Director Tanya N. Garfield of the U.S. Small Business Administration’s Disaster Field Operations Center-West. “The transition of these three centers to SBA Disaster Loan Outreach Centers will meet the current needs of Honolulu and Kauai County residents.”
“SBA customer service representatives will continue to answer questions, explain the application process, help businesses and individuals apply for a low-interest disaster loan and close their approved disaster loans,” Garfield continued. The DLOCs will be open on the days and times indicated. No appointment is necessary.
In addition, SBA representatives will continue to be available at the Honolulu County and Kauai County Disaster Recovery Centers to answer questions, explain the application process and help businesses and individuals apply for a low-interest disaster loan on the days and times indicated. No appointment is necessary.
SBA’s low-interest federal disaster loans are available to 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 the same type of 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 provides federal low-interest disaster loans up to $200,000 to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.
Interest rates can be as low as 3.58 percent for businesses, 2.5 percent for private nonprofit organizations and 1.813 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.
To be considered for all forms of disaster assistance, survivors must first register with the Federal Emergency Management Agency at www.disasterassistance.gov.
Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email firstname.lastname@example.org for more information on SBA disaster assistance. Individuals who are deaf or hard of hearing may call (800) 877-8339. 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 Aug. 27, 2018. The deadline to apply for economic injury is March 27, 2019.
About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. 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 or 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.