• SBA Economic Injury Disaster Loans (EIDL) Deadline November 9, 2024

    September 24, 2024
    The deadline for applications for SBA Economic Injury Disaster Loans (EIDL) connected to the devastating Maui fires has been extended to November 9, 2024. It is not necessary to have sustained physical damage to qualify for EIDL loans.
     
    Big Island residents who own or rent homes on Maui who experienced physical damage caused by the Maui fires may still apply for disaster loans if their application is accompanied by a letter explaining the reason for the lateness of the application.
     
    Maui fires may still apply for disaster loans if their application is accompanied by a letter explaining the reason for the lateness of the application.
     
    Economic Injury Disaster Loans (EIDLs) are made to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes.  They are working capital loans made to help businesses meet ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. They are intended to assist through the disaster recovery period. 
     
    EIDL loans may be up to $2 million, depending on the actual amount of injury and other factors as determined by the SBA. The interest rate is determined by formulas set by law and is fixed for the life of the loan. The maximum interest rate for this program is as low as 4 percent.
     
    Applications may be submitted at Maui SBA offices, online using the MySBA Loan Portal at https://lending.sba.gov, or online at the  SBA’s customer Service Center disastercustomerservice@sba.gov. Also, by phone at 1-800-659-2955. Those with speech or hearing disabilities may dial 7-1-1 to access telecommunications relay services.
     
    Please see the attached Disaster Declarations (English and Spanish) for details and call me with any questions you may have.

    Disaster Declaration English   Disaster Declaration Spanish