SBA HWI Low-Interest Disaster Loans

On May 21, SBA made federal disaster loans available in Hawaii,

  • SBA made low-interest federal disaster loans available to HWI businesses and residents affected by severe storms, flooding and landslide occurred Apr. 11-12.
  • Declaration makes SBA assistance available in HWI, Honolulu, Kalawao, Kauai, Maui.
  • Disaster Aid
  • Businesses may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.
  • For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture SBA offers EIDLs to help meet working capital needs caused by disaster.
  • Aid available regardless of whether business suffered any physical property damage.
  • Disaster loans up to $500k are available to homeowners to repair or replace disaster-damaged or destroyed real estate; up to $100k to repair/replace personal property.
  • Additionally, disaster loan applicants may be eligible for a loan amount increase of up to 20% of their physical damages, as verified by the SBA for mitigation purposes.
  • Deadlines
  • Property damage due Jul. 22, 2024; economic injury applications due Feb. 21, 2025.
  • May 28, 2024 SBA Fed Reg Declaration
  • On May 28, 2024, SBA published in the federal register an administrative declaration of disaster for the State of Hawaii due to severe storms, flooding, and landslides.

Regulators SBA
Entity Types CNSM; Corp
Reference 89 FR 46250, 5/28/2024; PR HI 20276-01, 5/21/2024;
Functions BCS; Compliance; Financial; Legal; Operations
Countries United States of America
Products Corporate; Loan
Regions Am
Rule Type Final
Rule Date 5/21/2024
Effective Date 7/22/2024
Rule Id 213017
Linked to N/A
Reg. Last Update 5/28/2024
Report Section US Investment

Last substantive update on 05/28/2024