Governor Ige secures federal disaster assistance for residents, businesses
affected by severe storms on Oʻahu, Maui
Residents and business owners on Oʻahu and Maui who were impacted by severe storms between Dec. 5 -10, 2021, may be eligible for
low-interest federal disaster loans.
The U.S. Small Businesses Administration (SBA) made these loans available in response to a request made by Gov. David Ige on Jan. 26, 2022.
The SBA assistance is available to residents and business owners in the City and County of Honolulu, County of Maui, and the contiguous county of Kalawao, who suffered losses and/or damage in December’s flooding and landslides.
“We encourage residents and businesses of all sizes to apply for SBA’s low-interest disaster loans to help them recover from last month’s storm. I am thankful to the SBA for its quick response and support of our residents as they work to rebuild their communities and businesses,” said Gov. Ige.
“We’re committed to providing federal disaster loans swiftly and efficiently, with a customer-centric approach to help businesses and communities recover and rebuild”, said SBA Administrator Isabella Casillas Guzman.
Low-interest federal disaster loans of up to $2 million are available to private non-profit organizations and businesses of all sizes, to repair or replace damaged or destroyed real estate, machinery, equipment, inventory, and other business assets. Additional funds are also available to businesses and homeowners for improvement projects to prevent/minimize the same type of disaster damage from occurring again.
In addition – homeowners are eligible for disaster loans of up to $200,000 to repair/replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair/replace damaged or destroyed personal property.
Interest rates can be as low as 2.83 percent for businesses, 1.875 percent for private non-profit organizations, and 1.438 percent for homeowners and renters up to 30 years.
For more information and for assistance applying, contact the Virtual Business Recovery Center (for business owners) and the Virtual Disaster Loan Outreach Center (for homeowners and renters) at FOCWAssistance@sba.gov or 800-659-2955, Monday through Friday between 8 a.m. and 8 p.m. Eastern Time. Applicants may also email email@example.com more information.
Applicants may apply online, receive additional disaster assistance information, and download applications at https://disasterloanassistance.sba.gov/.
The deadline to apply for property damage is Mar. 29, 2022. The deadline to apply for economic injury is Oct. 28, 2022.