Business

Kīlauea Eruption Disaster Loan Deadline Set

February 14, 2019, 3:55 PM HST
* Updated February 15, 11:17 AM
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The U.S. Small Business Administration’s Disaster Field Operations Center-West is reminding Hawai‘i small businesses of the March 14, 2019, deadline to apply for an SBA federal disaster loan for economic injury caused by the Kīlauea volcanic eruption and earthquakes that occurred May 3, through Aug. 17, 2018.

According to Director Tanya N. Garfield, small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may apply for Economic
Injury Disaster Loans of up to $2 million to help meet working capital needs caused by the disaster.
“Economic Injury Disaster Loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact. Economic injury assistance is available regardless of whether the applicant suffered any property damage,” Garfield said.

These low-interest federal disaster loans are available in Hawai‘i County.

The interest rate is 3.61% for businesses and 2.5% for private nonprofit organizations with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

Applicants may apply online, receive additional disaster assistance information and download applications. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email [email protected] for more information on SBA disaster assistance. Individuals who are deaf or hardofhearing 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.

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