• Wednesday, September 19, 2018
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Business Breaking| Top News

SBA loans for Kilauea eruption recovery top $30M

  • U.S. GEOLOGICAL SURVEY VIA ASSOCIATED PRESS

    Sunrise was seen over the Kilauea volcano lower East Rift Zone, July 17, on Hawaii island. The U.S. Small Business Administration said it has approved more than $30 million in federal disaster loans for Hawaii businesses and residents impacted by the Kilauea eruption that began May 3.

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The U.S. Small Business Administration said it has approved more than $30 million in federal disaster loans for Hawaii businesses and residents impacted by the Kilauea eruption that began May 3.

The SBA has approved $8 million for businesses and about $22.6 million for residents to help rebuild and recover from this disaster.

“SBA’s disaster assistance employees are committed to helping businesses and residents rebuild as quickly as possible,” said SBA’s Disaster Field Operations Center-West director Tanya 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 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. Homeowners may borrow up to $200,000 to repair or replace their primary residence. Homeowners and renters are eligible for up to $40,000 to repair or replace personal property.

Interested businesses and residents are encouraged to register with the Federal Emergency Management Agency prior to the Sept. 12 deadline at disasterassistance.gov.

To download an application, go to disasterloan.sba.gov/ela, call the SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov.

The SBA is available for one-on-one assistance at the Discovery Recovery Center in Pahoa, 15-3022 Kauhale St., which is open 8 a.m. to 6 p.m. weekdays and 8 a.m. to 4 p.m. Saturdays. The center will be closed Saturday through Monday for Labor Day weekend.

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