SBA Recovery Centers in Hawaii Remain Open to Help Those Affected by Wildfires

The US Small Business Administration (SBA) announced today that its SBA Recovery Centers in Hawaii will continue to provide essential services to businesses and individuals affected by the recent wildfires and high winds. These centers offer a variety of specialized services aimed at meeting the long-term needs of community rehabilitation.

Francisco Sánchez Jr., Associate Director of the Office of Disaster Recovery and Resilience at the SBA, emphasized the importance of these institutions in the recovery process. He noted that the focus is now on addressing the long-term needs of those affected by the wildfires, which occurred between August 8 and September 30, 2023. These centers serve as a one-stop shop for many SBA services, and no appointment is required. All services are provided free of charge.

More places to stay in Maui County:

• Council for the Advancement of Hawaiian Heritage
  • 70 E Kaahumanu Ave., Kahului, HI 96732
  • Opening hours: Monday to Friday, 9 am – 5 pm
• Business Recovery Center
  • Hawaii Technology Development Corp., Maui Research Technology Center (MRTC), Bldg. A, Ste. 119 (Conference Room), 590 Lipoa Pkwy., Kihei, HI 96753
  • Opening hours: Monday to Friday, 8am – 5pm
• Maui Office of Recovery – West
  • Lahaina Gateway, Unit 102-B (next to Ace Hardware), 325 Keawe St., Lahaina, HI 96761
  • Opening hours: Monday to Friday, 8 am – 12:30 pm and 1:30 pm – 4:30 pm
• Business Resource Center and Assessment
  • One Main Plaza, 2200 Main St., Ste. 100-C, Wailuku, HI 96793
  • Opening hours: Monday to Friday, 8am – 5pm

Disaster Loan Assistance

The SBA offers a range of disaster loan options to support recovery efforts:

• Businesses of all sizes and private non-profit organizations can borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery, equipment, inventory, and other business assets. Additional funds may be available to help cover the cost of improvements that protect against future disasters.
• Economic Disaster Loan (EIDL) are available to small businesses, small agricultural cooperatives, aquaculture businesses, and many private non-profit organizations to meet the financial needs of a disaster, regardless of the extent of business damage.
• Landlords can apply for disaster loans of up to $500,000 to repair or replace damaged or destroyed buildings, and up to $100,000 to repair or replace damaged or destroyed personal property, including personal vehicles.

Applicants must now provide a written justification for the disaster loan; however, EIDL applicants will not be required to provide written reasons until after November 9.

Loan and Payment Terms

Interest rates for these disaster loans can be as low as 4 percent for businesses, 2.375 percent for private nonprofits, and 2.5 percent for homeowners and renters. Loan terms can be extended up to 30 years, with rates and terms set based on the financial situation of each applicant.

Interest does not begin to accrue until 12 months after the first payment on a disaster loan, and repayment begins 18 months from the date of the first payment.