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The Maui News
Low-interest federal disaster loans are available to certain private nonprofit organizations in Hawaii following President Joe Biden's federal disaster declaration for Public Assistance as a result of severe storms, flooding and landslides that occurred Dec. 5 through 10, 2021.
Administrator Isabella Casillas Guzman of the U.S. Small Business Administration announced that private nonprofits that provide essential services of a governmental nature are eligible for assistance, including those in Honolulu and Maui Counties.
Private nonprofit organizations should contact Adam Weintraub at the Hawaii Emergency Management Agency at (808) 733-4300, Ext. 522, or email adam.b.weintraub@ hawaii.gov to obtain information about applicant briefings.
At the briefings, private nonprofit representatives will need to provide information about their organization, said Director Tanya N. Garfield of SBA's Disaster Field Operations Center-West.
The Federal Emergency Management Agency will use that information to determine if the private nonprofit provides an "essential governmental service" and is a "critical facility" as defined by law, Garfield said.
If eligible, FEMA may provide the private nonprofit with a Public Assistance grant for their eligible costs. If not, FEMA may refer the private nonprofit to SBA for disaster loan assistance.
According to the news release, SBA may lend private nonprofits 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 help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.
For certain private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help with meeting working capital needs caused by the disaster, and 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 nonprofit suffered any property damage.
The interest rate is 1.875 percent with terms up to 30 years. The deadline to apply for property damage is April 18 and the deadline to apply for economic injury is Nov. 15.
Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloanassistance
.sba.gov/.
Applicants may also call SBA's Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance.
For people who are deaf, hard of hearing, or have a speech disability, please 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.