SBA offers financial relief to Hawaii businesses, residents affected by March flooding

SBA offers financial relief to Hawaii businesses, residents affected by March flooding
Severe flooding hit Oahu's North Shore on Tuesday, swamping homes and roads. (Source: Ryzone Media)

HONOLULU, Hawaii (HawaiiNewsNow) - Beginning Friday, more financial relief will be offered to victims who were impacted by flooding and landslides in March.

The U.S. Small Business Administration is offering federal disaster loans for Hawaii businesses and residents impacted by severe weather between March 8 to 18.

Businesses and nonprofit organizations can borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets.

Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate.

The deadline to apply for property damage is June 28.

SBA said economic injury assistance is also available regardless of whether the business suffered any property damage.

To apply for economic injury, the deadline is Jan. 31, 2022.

SBA established a virtual Business Recovery Center Friday to provide personalized assistance to business owners.

The administration also opened a virtual Disaster Loan Outreach Center to help homeowners and renters.

The virtual Business Recovery Center and Disaster Loan Outreach Center will be open Monday through Friday from 2 a.m. to 2 p.m.

For more information and to apply, click here.

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