SBA has approved $25M in Kilauea disaster-related loans
  • Thursday, November 15, 2018
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Hawaii News

SBA has approved $25M in Kilauea disaster-related loans

  • USGS VIA ASSOCIATED PRESS

    The U.S. Small Business Administration has OK’d $25 million in Kilauea disaster-related loans. In this aerial photo, lava from the last active eruption site on Kilauea Volcano is shown Sunday near Pahoa, Hawaii island.

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The U.S. Small Business Administration said Friday it has approved more than $25 million in federal disaster loans for Hawaii businesses and residents affected by the Kilauea eruption.

Tanya N. Garfield, director of the SBA’s Disaster Field Operations Center-West, said the SBA has approved about $6.5 million for businesses and about $18.5 million for residents to help rebuild and recover from this disaster.

Businesses and residents who sustained damage are encouraged to register with the Federal Emergency Management Agency at disasterassistance.gov prior to the Monday deadline.

“SBA’s disaster assistance employees are committed to helping businesses and residents rebuild as quickly as possible,” said Garfield in a news release. “Don’t miss out on any assistance you may be entitled to by not registering for help. You don’t need to wait for your insurance to settle or obtain a contractor’s estimate.”

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.

Disaster loans up to $200,000 are available to homeowners to repair or replace their damaged or destroyed primary residence. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.

The deadline for residents, renters, businesses and nonprofits to apply for property damage assistance is Monday. The deadline for businesses and nonprofits to apply for economic injury loans is March 14.

SBA continues to provide one-on-one assistance to business owners and individuals at the Disaster Recovery Center in Pahoa at 15-3022 Kauhale St. The center is open 8 a.m. to 6 p.m. weekdays and 8 a.m. to 4 p.m. Saturdays. Applicants can also call SBA’s Customer Service Center at 800-659-2955 or email disaster customerservice@sba.gov.

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