SBA to Close Honolulu Business Recovery Center, Consolidate Other Locations in Kihei

SACRAMENTO, Calif. - Today, the SBA announced that it will close its Honolulu Business Recovery Center at the following location at 6 p.m. on Friday, May 10.

HONOLULU COUNTY
Business Recovery Center
Hawaii Foreign-Trade Zone No. 9
521 Ala Moana Blvd., Ste. #201, Pier 2
Honolulu, HI 96813
Mondays - Saturdays, 9 a.m. - 6 p.m.

Until the center closes, SBA customer service representatives will continue to meet with business owners to answer questions about the SBA's disaster loan program, explain the application process, help each individual complete their electronic loan applicationand close their approved loans. No appointment is necessary.

The SBA and representatives from Operation Hope, a key leader assisting individuals with financial literacy, access to capital and financial disaster recovery, also announced that Kihei's Business Recovery Center (BRC) and the Business Resource and Assessment Center (BRAC) will consolidate beginning Monday, May 13 at 8 a.m.

SBA representatives will continue to be available at the BRC and BRAC location to meet with businesses and residents. SBA and Operation Hope opened the BRAC to provide a variety of public and private sector assistance and information to Mauibusiness.The centers will be open on the days and times indicated. Services will not be interrupted during the consolidation. No appointment is necessary.

MAUI COUNTY
Business Recovery Center
Business Resource and Assessment Center
Hawaii Technology Development Corp.
Maui Research Tech Center (MRTC)
Building #A, Ste. 119 (Conference Room)
590 Lipoa Pkwy.
Kihei, HI 96753
Mondays - Fridays, 8 a.m. - 5 p.m.
Opens Monday May 13 at 8 a.m.

To accommodate the needs of Maui disaster survivors, through June 11, physical damage applicants will not need to provide a written explanation when applying for an SBA disaster loan for missing the original deadline. Homeowners, renters and business owners from Maui who have been displaced by the Maui wildfires and small businesses in all of Hawaii that have working capital needs caused by the Maui wildfires, may also visit the centers to meet with SBA representatives and apply for disaster loans.
Businesses of all sizes and private nonprofit organizations may borrow 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 improvements to protect, prevent or minimize disaster damage from occurring in the future.

Disaster loans up to $500,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $100,000 to repair or replace damaged or destroyed personal property, including personal vehicles.

Interest rates can be as low as 4 percent for businesses, 2.375 percent for private nonprofit organizations and 2.5 percent for homeowners and renters 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 18 months from the date of the first disbursement.

Applicants may apply online and receive additional disaster assistance information at https://www.sba.gov/hawaii-wildfires. Applicants may also call SBA'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.

The deadline to apply for economic injury is May 10. SBA will continue to accept late applications for property damage through June 11.

Link to recovery centers can be found hereand at: https://lending.sba.gov/search-disaster/?disaster=HI-00073.

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About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit https://www.sba.gov/hawaii-wildfires.