Low-interest federal disaster loans are available to some private nonprofit organizations in Hawaii following President Joe Biden’s federal disaster declaration for public assistance following severe storms, floods and landslides that occurred from December 5 to 10, 2021.
Administrator Isabella Casillas Guzman of the US Small Business Administration announced that private nonprofit organizations that provide essential services of a government nature are eligible for assistance, including those in Honolulu and Maui counties.
During briefings, private nonprofit representatives will be required to provide information about their organization, said director Tanya N. Garfield of the SBA’s Disaster Field Operations Center-West.
The Federal Emergency Management Agency will use this information to determine if the private nonprofit organization is providing a “essential government service” and is a “critical facility” as defined by law, Garfield said.
If eligible, FEMA may provide the private nonprofit association with a public assistance grant for its eligible costs. If not, FEMA may refer the private nonprofit organization to the SBA for disaster assistance.
According to the press release, the SBA can lend up to $2 million to private nonprofits to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. .
The SBA may also lend additional funds to help cover the cost of improvements to protect, prevent, or minimize the same type of disaster damage in the future.
For certain private nonprofit organizations of any size, the SBA offers economic disaster loans to help meet working capital needs caused by the disaster, and can be used to pay fixed debts, payroll , accounts payable and other invoices that cannot be paid due to the impact of the disaster.
Economic injury assistance is available whether or not the nonprofit has suffered property damage.
The interest rate is 1.875% with terms up to 30 years. The deadline to file a property damage claim is April 18 and the deadline to file an economic loss claim is November 15.
Applicants can apply online, receive additional disaster assistance information, and upload applications at https://disasterloanassistance
Applicants may also call the SBA Customer Service Center at (800) 659-2955 or email [email protected] for more information about SBA disaster assistance.
For people who are deaf, hard of hearing or have a speech impediment, please dial 7-1-1 to access telecommunications relay services.
Completed applications should be mailed to US Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.