HONOLULU — The Hawaii Emergency Management Agency reminded Kauai small businesses affected by last year’s drought that the deadline for applications for U.S. Small Business Administration Economic Injury Disaster Loans is April 17.

What You Need To Know

  • Deadline for applications for U.S. Small Business Administration Economic Injury Disaster Loans is April 17

  • Loans up to $2 million are available to qualifying small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations

  • Loan rates for businesses are 3.04% and 1.875% for private nonprofit organizations with a maximum term of 30 years

  • Applications are also being accepted for qualifying small nonfarm businesses in Maui and Kalawao counties affected by the drought that began Jan. 1, 2023

The loans should offset “economic injury” as a result of reduced revenues caused by the drought that was declared by the county on Aug. 9, 2022.

Tanya N. Garfield, director of the SBA’s Disaster Field Operations–West said in a news release, 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. Economic injury assistance is available regardless of whether the applicant suffered any property damage.”Loans up to $2 million used to meet working capital needs caused by the disaster are available to qualifying small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations.

Loan rates for businesses are 3.04% and 1.875% for private nonprofit organizations with a maximum term of 30 years.

Last week, the SBA announced applications are also being accepted for qualifying small nonfarm businesses in Maui and Kalawao counties affected by the drought that began Jan. 1, 2023.

Individuals can visit the SBA website to learn more and access forms. Individuals can also call 800-659-2955 or email disastercustomerservice@sba.gov for more information. Those who are deaf, hard of hearing, or have impaired speech may dial 711 to access telecommunications relay services.

Mail completed forms to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Rd., Fort Worth, TX 76155.

Sarah Yamanaka covers events, environmental and community news for Spectrum News Hawaii. She can be reached at sarah.yamanaka@charter.com.