HomeMy WebLinkAbout2019-02-14 March 14 is Deadline to Apply for Post-Eruption SBA Disaster Loans -- press release
March 14 is Deadline to Apply for SBA Disaster Loans related to Kilauea Eruption
SACRAMENTO, Calif. – Director Tanya N. Garfield of the U.S. Small Business
Administration’s Disaster Field Operations Center-West today reminded Hawaii small
businesses of the March 14, 2019, deadline to apply for an SBA federal disaster loan
for economic injury caused by the Kilauea volcanic eruption and earthquakes that
occurred May 3 - Aug. 17, 2018.
According to 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 percent for businesses and 2.5 percent 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 at https://disasterloan.sba.gov/ela. 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.
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.