The U.S. Small Business Administration is providing assistance to homeowners, renters, businesses, and non-profit organizations that were affected by the Kona low storms, landslides, mudslides, and flooding. For those who have experienced property damage, lost business or nonprofit revenue, or lost or damaged personal items, assistance in the form of low-interest federal loans may be available.
The SBA’s disaster loans are available to help businesses, nonprofits, homeowners, and renters recover from declared disasters. These long-term, low interest rate loans help them rebuild, get back to business, and make property improvements that eliminate future damage or save lives. Homeowners and renters can use the loans to replace personal property. There is no need to wait for settled insurance claims, potential FEMA grants or contractor estimates before applying. Businesses do not have to be small to receive SBA disaster recovery assistance, and disaster loans can be increased up to 20% to make building upgrades that protect against future disasters.
Business Disaster Loans — Up to $2 Million*
Businesses and nonprofits can get loans to repair or replace damaged or destroyed real estate, machinery, equipment, inventory, other business assets, and to prepare for future disasters.
Economic Injury Disaster Loans — Up to $2 Million*
Small businesses, agricultural cooperatives, aquaculture enterprises, and most nonprofits can get loans to meet their working capital needs through the recovery period. These loans are available regardless of whether a business has suffered property damage.
Home Disaster Loans
Homeowners can get loans up to $500,000 to repair or replace a primary residence and get assistance to protect their home against future disasters. Additionally, homeowners and renters can get up to $100,000 to repair or replace personal property, such as furniture, appliances, and vehicles.
*The maximum loan for any combination of property damage and/or economic injury is $2 million.
For more information:
https://www.sba.gov/funding-programs/disaster-assistance
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The U.S. Small Business Administration is providing assistance to homeowners, renters, businesses, and non-profit organizations that were affected by the Kona low storms, landslides, mudslides, and flooding. For those who have experienced property damage, lost business or nonprofit revenue, or lost or damaged personal items, assistance in the form of low-interest federal loans may be available.