DR-4366-HI NR007
July 07, 2018
HI-EMA-PIO: 808-733-4300
NEWS DESK: 808-851-7928<\/p>\n\n\n\n
HONOLULU\u2013Hawai\u2019i County homeowners and renters with losses from the Kilauea eruptions are utilizing low-interest disaster loans to help fund their recovery.<\/p>\n\n\n\n
The U.S. Small Business Administration is the federal government\u2019s primary source of money for the long-term rebuilding of disaster-damaged private property.<\/p>\n\n\n\n
Registering with the Federal Emergency Management Agency and applying with the SBA are critical steps in the recovery process. FEMA and SBA are joint federal partners assisting with Hawaii\u2019s recovery efforts.<\/p>\n\n\n\n
\u201cEven the maximum allowable FEMA award is unlikely to replace a disaster damaged home,\u201d said Federal Coordinating Officer Bern Ruiz. \u201cMost disaster recovery is funded by low-interest loans from the SBA.\u201d<\/p>\n\n\n\n
SBA can provide loans up to $200,000 to homeowners to repair or replace disaster-damaged real estate and up to $40,000 for personal property, including furniture and automobiles.<\/p>\n\n\n\n
Renters are also eligible to apply for low interest disaster loans up to $40,000 to help recover from personal property losses, including furniture, clothing and vehicles.<\/p>\n\n\n\n
Low interest disaster loans from the U.S. Small Business Administration are being used to:
\u2022 Repair or replace disaster damaged real estate
\u2022 Replace disaster damaged or destroyed personal property including furniture, clothing, appliances and vehicles;
\u2022 Make improvements to reduce the risk of future damage.<\/p>\n\n\n\n
Most survivors who register for disaster aid with the Federal Emergency Management Agency are referred to SBA for additional disaster recovery funding. Submitting an SBA loan application is an important step in the recovery process because it may qualify the applicant for more FEMA grants.<\/p>\n\n\n\n
There is no obligation to accept a disaster loan, if offered.<\/p>\n\n\n\n
If the SBA is unable to provide a low interest disaster loan, in many cases applicants are referred back to FEMA for other grant assistance. Applicants have 6 months to request reconsideration with the SBA.<\/p>\n\n\n\n
Disaster loans have distinct advantages:
\u2022 Disaster loans to homeowners and renters are as low as 1.93 percent
\u2022 Terms up to 30 years
\u2022 No points or application fees
\u2022 Loans may be available prior to insurance settlements<\/p>\n\n\n\n
To apply for SBA low-interest disaster loans, business owners, private nonprofits, homeowners and renters can visit the disaster recovery center for one-on-one assistance or apply online using SBA\u2019s secure website at https:\/\/disasterloan.sba.gov\/ela.<\/p>\n\n\n\n
The deadline to apply for an SBA disaster loan is Aug. 13, 2018.<\/p>\n\n\n\n
For additional information on FEMA programs and how to register for assistance, go to: www.fema.gov\/disaster\/4366<\/p>\n\n\n\n
###<\/p>\n\n\n\n
The SBA is the federal government\u2019s primary source of money for the long-term rebuilding of disaster-damaged private property. SBA helps businesses of all sizes, private nonprofit organizations, homeowners and renters fund repairs or rebuilding efforts and cover the cost of replacing lost or disaster-damaged personal property. These disaster loans cover losses not fully compensated by insurance or other recoveries and do not duplicate benefits of other agencies or organizations. For more information, applicants may contact SBA\u2019s Disaster Assistance Customer Service Center by calling 800-659-2955, emailing disastercustomerservice@sba.gov, or visiting SBA\u2019s website at www.sba.gov\/disaster. Deaf and hard-of-hearing individuals may call 800-877-8339 (TTY).<\/p>\n","protected":false},"excerpt":{"rendered":"
DR-4366-HI NR007July 07, 2018HI-EMA-PIO: 808-733-4300NEWS DESK: 808-851-7928 HONOLULU\u2013Hawai\u2019i County homeowners and renters with losses from the Kilauea eruptions are utilizing low-interest disaster loans to help fund their recovery. The U.S. […]<\/p>\n","protected":false},"author":54,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"3439,3381,3373,4243,9420,6062","_relevanssi_noindex_reason":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[352,351],"tags":[],"class_list":["post-3327","post","type-post","status-publish","format-standard","hentry","category-2016-2021","category-news-release"],"acf":[],"_links":{"self":[{"href":"https:\/\/dod.hawaii.gov\/hiema\/wp-json\/wp\/v2\/posts\/3327","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dod.hawaii.gov\/hiema\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dod.hawaii.gov\/hiema\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dod.hawaii.gov\/hiema\/wp-json\/wp\/v2\/users\/54"}],"replies":[{"embeddable":true,"href":"https:\/\/dod.hawaii.gov\/hiema\/wp-json\/wp\/v2\/comments?post=3327"}],"version-history":[{"count":3,"href":"https:\/\/dod.hawaii.gov\/hiema\/wp-json\/wp\/v2\/posts\/3327\/revisions"}],"predecessor-version":[{"id":15390,"href":"https:\/\/dod.hawaii.gov\/hiema\/wp-json\/wp\/v2\/posts\/3327\/revisions\/15390"}],"wp:attachment":[{"href":"https:\/\/dod.hawaii.gov\/hiema\/wp-json\/wp\/v2\/media?parent=3327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dod.hawaii.gov\/hiema\/wp-json\/wp\/v2\/categories?post=3327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dod.hawaii.gov\/hiema\/wp-json\/wp\/v2\/tags?post=3327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}