SBA to open Business Recovery Center in Honolulu to help businesses impacted by Maui wildfires
The US Small Business Administration has partnered with the Hawaiʻi Small Business Development Center to open an SBA Business Recovery Center in Honolulu to provide a wide range of services to small businesses impacted by Maui wildfires that began Aug. 8.
The Honolulu opening follows a recently expanded declaration by the Biden Administration to allow small businesses in all five of Hawaiʻi’s counties to access wildfire-related disaster assistance.
“Due to the severe property damage in Maui and economic losses the Maui wildfires inflicted on small businesses in all of Hawaiʻi, we want to provide every available service to help get them back on their feet,” said SBA’s Director Jeffrey Lusk of the US Small Business Administration’s Disaster Field Operations Center‑West. “The center will provide a one-stop location for businesses to access a variety of specialized help. SBA customer service representatives will be available to meet individually with each small business owner,” he said.
No appointment is necessary. All services are provided free of charge. The center is open as indicated below.
HONOLULU COUNTY Business Recovery Center: Hawaiʻi Foreign – Trade Zone No. 9, 521 Ala Moana Blvd., Ste. # 201, Pier 2, Honolulu, HI 96813. Open Mondays – Saturdays, 9 a.m. – 6 p.m.
SBA representatives will meet with each business owner to explain how an SBA disaster loan can help finance their recovery. They will answer questions about SBA’s disaster loan program, explain the application process and help each business owner complete their electronic loan application.
Homeowners and renters from Maui who have been displaced by the Maui wildfires, may also visit the center to meet with SBA customer service representatives and apply for SBA disaster loan assistance.
SBA representatives continue to be available at the Business Recovery Center in Kīhei to provide information on SBA disaster loans and business assistance on the dates and times indicated.
MAUI COUNTY Business Recovery Center: Hawaiʻi Technology Development Corporation, Maui Research Technology Center, Building # A, Ste. 119 (Conference Room), 590 Lipoa Pkwy. Kīhei. Open: Mondays – Fridays, 8 a.m. – 5 p.m.; and Saturdays, 10 a.m. – 2 p.m.
According to Interim State Director Joseph Burns, Hawaiʻi Small Business Development Center business advisors can provide business assistance to clients on a wide variety of matters designed to help small business owners re-establish their operations, overcome the effects of the disaster and plan for their future.
“Services include assessing business working capital needs, evaluating the business’s strength, cash flow projections, and most importantly, a review of options with the business owner to help them evaluate their alternatives and make decisions that are appropriate for their situation,” Burns said.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any property damage.
Interest rates are 4% for businesses and 2.375% for private nonprofit organizations with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition. Interest does not begin to accrue until 12 months from the date of the first disaster loan disbursement. SBA disaster loan repayment begins 12 months from the date of the first disbursement.
Applicants may apply online, receive additional disaster assistance information and download applications at https://www.sba.gov/hawaii-wildfires. Applicants may also callSBA’s Customer Service Center at 800-659-2955 or email [email protected] for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, 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.
The deadline to apply for property damage is Oct. 10, 2023. The deadline to apply for economic injury is May 10, 2024.