There are only some weeks left to use for a US Small Enterprise Administration’s federal catastrophe mortgage for bodily injury sustained through the December 2021 “Kona low” extreme climate, flooding and landslides.
Residents and companies in Maui County (together with Molokaʻi and Lānaʻi), the Metropolis and County of Honolulu, and contiguous County of Kalawao who want to apply for a private property or bodily catastrophe mortgage should achieve this by March 29, 2022.
The Small Enterprise Administration (SBA) already has authorised greater than $400,000 in low-interest loans to assist residents restore injury and proceed restoration from the storm that impacted Hawaiʻi Dec. 5-10, 2021.
The authorised packages make out there catastrophe loans of:
- As much as $200,000 for owners to restore or change broken or destroyed actual property, and
- As much as $40,000 for owners or renters to restore or change private property that was broken or destroyed.
The loans have phrases of as much as 30 years at rates of interest as little as 1.438%.
Companies and personal nonprofit organizations might borrow as much as $2 million to restore or change broken or destroyed actual property, equipment and tools, stock, and different enterprise property. The up-to-30-year loans have rates of interest as little as 2.83% for companies and 1.875% for personal nonprofit organizations.
The authorised packages make out there catastrophe loans of:
- As much as $200,000 for owners to restore or change broken or destroyed actual property, and
- As much as $40,000 for owners or renters to restore or change private property that was broken or destroyed.
The loans have phrases of as much as 30 years at rates of interest as little as 1.438%.
Companies and personal nonprofit organizations might borrow as much as $2 million to restore or change broken or destroyed actual property, equipment and tools, stock, and different enterprise property. The up-to-30-year loans have rates of interest as little as 2.83% for companies and 1.875% for personal nonprofit organizations.
SBA can also lend further funds to companies and owners to assist pay for enhancements to guard, stop or decrease the identical sort of catastrophe injury from occurring sooner or later.
A brand new video to elucidate the method was created throughout a digital data briefing by the Hawaiʻi Emergency Administration Company. The session included a presentation by the SBA, the Maui County Emergency Administration Company and the Metropolis and County of Honolulu Division of Emergency Administration. To view the video or for added assets, click on right here.
Extra questions could be emailed to the Hawaiʻi Emergency Administration Company at [email protected]
Small companies (together with aquaculture), small agricultural cooperatives and most personal nonprofits can also be eligible for Financial Damage Catastrophe Loans to assist meet working capital wants brought on by the catastrophe, even when the enterprise didn’t undergo property injury.
Functions for Financial Damage Catastrophe Loans are due Oct. 28, 2022.
Mortgage purposes for private property, bodily injury and financial damage could be downloaded right here.
To help with mortgage purposes whereas defending towards the chance of COVID-19, SBA have opened a Digital Enterprise Restoration Middle and Digital Catastrophe Mortgage Outreach Middle. Customer support representatives can reply questions, clarify the applying course of, and assist with submitting a web based mortgage utility.
The facilities are working Monday via Friday from 3 a.m. to three p.m. in Hawaiʻi Customary Time and could be reached at 800-659-2955 or [email protected]