Homeowners, businesses, and non-profit organizations impacted by the recent Maui wildfires still have time to apply for federal assistance from the Small Business Administration (SBA). While the initial application deadline passed yesterday, officials have announced a 45-day grace period for applications related to property damage.
This means that affected individuals and entities now have until January 25th, 2024 to submit their applications for SBA loans. This extension provides crucial time for those who may have been initially overwhelmed by the aftermath of the fires and unable to meet the original deadline.
Who qualifies for assistance?
- Homeowners whose primary residences were damaged or destroyed by the wildfires.
- Renters whose rental properties were damaged or destroyed by the wildfires.
- Businesses of all sizes that sustained economic losses due to the wildfires.
- Private non-profit organizations, including churches, that were damaged or destroyed by the wildfires.
What types of assistance are available?
- Homeowners and renters: Up to $100,000 in low-interest loans to repair or replace damaged or destroyed personal property, including vehicles.
- Businesses: Up to $2 million in low-interest loans to repair or replace damaged or destroyed property, inventory, and equipment. Economic injury disaster loans are also available to help businesses meet working capital needs.
- Non-profit organizations: Up to $2 million in low-interest loans to repair or replace damaged or destroyed property, equipment, and inventory.
How to apply:
Applications for SBA disaster assistance loans can be submitted online through the SBA website at https://www.sba.gov/funding-programs/disaster-assistance. Alternatively, individuals can visit any SBA disaster loan outreach center for assistance with the application process.
Resources:
- SBA Disaster Assistance website: https://www.sba.gov/funding-programs/disaster-assistance
- Maui County Emergency Management Agency: https://www.mauicounty.gov/70/Emergency-Management-Agency
- Federal Emergency Management Agency (FEMA): https://www.fema.gov/
Don’t delay!
The extended deadline offers a valuable opportunity for wildfire victims to access financial assistance and begin the process of rebuilding their lives. Encourage those affected to apply for SBA loans before the January 25th deadline.
