HI-EMA NEWS RELEASE: SMALL BUSINESS LOANS AVAILABLE TO COUNTER HONOLULU DROUGHT IMPACTS
HONOLULU — Hawaii Emergency Administration Company (HI-EMA) want to remind the general public that small nonfarm companies in Honolulu at the moment are eligible to use for low curiosity federal catastrophe loans from the U.S. Small Enterprise Administration. These loans offset financial losses due to diminished revenues brought on by drought in Honolulu County that started Sept. 15, 2020.
Small nonfarm companies, small agricultural cooperatives, small companies engaged in aquaculture and most personal nonprofit organizations of any dimension might qualify for Financial Damage Catastrophe Loans of as much as $2 million to assist meet monetary obligations and working bills which might have been met had the catastrophe not occurred.
“These monies can show to be an indispensable help for the struggling small companies affected by the drought that began in September,” mentioned HI-EMA Administrator Luke Meyers.
Eligibility for these loans is predicated on the monetary impression of the catastrophe solely and never on any precise property harm. These loans have an rate of interest of three % for companies and a couple of.75 % for personal nonprofit organizations, a most time period of 30 years and can be found to small companies and most personal nonprofits with out the monetary capacity to offset the hostile impression with out hardship.
By regulation, SBA makes Financial Damage Catastrophe Loans obtainable when the U.S. Secretary of Agriculture designates an agricultural catastrophe. The Secretary declared this catastrophe on Nov. 6, 2020.
Candidates might apply on-line, obtain further catastrophe help data and obtain purposes at https://disasterloanassistance.sba.gov/. Candidates may name SBA’s Buyer Service Heart at (800) 659-2955 or e-mail [email protected] for extra data on SBA catastrophe help. People who’re deaf or laborious of listening to might name (800) 877-8339. Accomplished purposes ought to be mailed to U.S. Small Enterprise Administration, Processing and Disbursement Heart, 14925 Kingsport Highway, Fort Value, TX 76155.
The deadline to use for financial harm is July 6, 2021.
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