SBA Disaster Loan Center on Capital Hill closes today

SACRAMENTO, Calif.—Director Jane Sawyer of the U.S. Small Business Administration’s Hawaii District Office announced Friday that SBA will close its Disaster Loan Outreach Center on Capital Hill at the close of business today, Jan. 11.

“SBA opened the center to provide personalized assistance to Saipan businesses and residents who were affected by Typhoon Soudelor that occurred Aug. 1-3, 2015,” said Sawyer.

So far, SBA has approved more than $10.9 million in low interest disaster loans to Saipan businesses and more than $13.3 million to individuals.

Businesses and residents can still meet with SBA representatives today, Jan. 11, from 8am to 4:30pm. No appointment is necessary. The center is located at the Juan A. Sablan Memorial Building, Office of the Governor, Isa Drive, Capital Hill.

“Although the deadline to apply for property damage loans has expired, small businesses and most private nonprofit organizations of any size may continue to apply for an Economic Injury Disaster Loan to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business or nonprofit organization suffered any property damage,” Sawyer said.

At the center, SBA representatives are available to help business owners apply for EIDL assistance and help residents and business owners close their approved disaster loans. 

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, 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. (SBA)