Disaster Assistance Now Available For Private, Nonprofits in MauiMay 7, 2012, 1:02 PM HST · Updated May 8, 6:31 AM 0 Comments
By Wendy Osher
Low-interest disaster loans are now available to certain private, nonprofit organizations in Maui County following the severe storms, flooding, and landslides that occurred from March 3-11, 2012.
The assistance is available through the US Small Business Administration for private non-profits that provide essential government services.
The amended assistance parameters now extends assistance beyond Kauai, making assistance available to Maui as well.
It follows President Barack Obama’s April 18, 2012, federal disaster declaration for Public Assistance to help with storm damaged areas in the state.
Interested organizations should begin the process by registering with the Federal Emergency Management Agency. At the time of registration, FEMA will initially determine if the private, non-profit group qualifies to immediately apply for a grant through the program.
All other eligible private non-profit groups will be referred to the SBA for a low-interest disaster loan to cover property damages. If SBA cannot approve a low-interest disaster loan or meet all of the organization’s needs, SBA may refer the group back to FEMA.
SBA may lend each organization up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. SBA can also lend additional funds to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future.
Economic Injury Disaster Loans are also available to help meet working capital needs caused by the disaster. The loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact. Interest rates for the EIDL loans are as low as 3% with terms up to 30 years.
Applicants may apply online using the Electronic Loan Application via SBA’s website at https://disasterloan.sba.gov/ela. Disaster loan information and application forms are available from SBA’s Customer Service Center by calling (800) 659‑2955, emailing [email protected], or visiting SBA’s Web site at www.sba.gov/services/disasterassistance.
The filing deadline to return applications for property damage is June 18, 2012. The deadline to return economic injury applications is January 18, 2013.