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SBA tops $20 million in disaster assistance loans
SACRAMENTO, Calif.—Director Jane Sawyer of the U.S. Small Business Administration’s Hawaii District office announced Friday that SBA has approved $20.3 million in disaster loans: $9.2 million to help businesses and private, nonprofit organizations and $11.1 million to help residents rebuild and recover from Typhoon Soudelor.
In addition, “SBA’s Disaster Loan Outreach Center in Susupe will be closed on Wednesday, Nov. 11 in observance of Veterans Day. The center will re-open Thursday, November 12,” Sawyer said.
Small, nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may qualify for an EIDL of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred. These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact.
The interest rate is 4 percent for businesses and 2.625 percent for private nonprofit organizations with terms up to 30 years. The deadline to submit an EIDL application is May 5, 2016.
Applicants may apply online using the Electronic Loan Application via SBA’s secure website at https://disasterloan.sba.gov/ela.
Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling (800) 659-2955 or emailing disastercustomerservice@sba.gov. Individuals who are deaf or hard-of-hearing may call (800) 877-8339. For more disaster assistance information, or to download applications, visit http://www.sba.gov/disaster. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. (SBA)
