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The Maui News
The U.S. Small Business Administration announced that it will extend the application deadline for physical damage loans for those impacted by the Hawaii wildfires, following a push by Hawaii's congressional delegation.
The deadline for loan applications has been extended from Oct. 10 to Nov. 9, the SBA and Hawaii U.S. Sen. Mazie Hirono's office confirmed.
Since the Aug. 8 fires, the SBA has approved more than $139 million in federal disaster loans, including $40.6 million for businesses and $98.6 million for residents to help rebuild and recover, according to a SBA news release Wednesday.
Businesses of all sizes and private nonprofits may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets.
For small businesses and most private nonprofits of all sizes, the 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.
Disaster loans up to $500,000 are available to homeowners to repair or replace damaged or destroyed real estate.
Homeowners and renters are eligible for up to $100,000 to repair or replace damaged or destroyed personal property, including personal vehicles.
Businesses and residents in Maui County who sustained property damage are encouraged to register with the Federal Emergency Management Agency at www.disasterassistance.gov prior to the Nov. 9 deadline. Small businesses and nonprofits can apply for economic injury loans in all five counties in Hawaii by visiting disasterloanassistance.sba.gov/ before May 10, 2024.
Applicants may apply online, receive additional disaster assistance information and downloadapplications at www.sba.gov/hawaii-wildfires. Applicants may also call the SBA's Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on the SBA's disaster assistance. People who are deaf, hard of hearing or have a speech disability can dial 711 to access telecommunications relay services. Completed applications should be mailed to the U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.