SBA opens Maui disaster loan center as Hawaii recovery aid expands

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Maui disaster loan center

Highlights

The SBA opened a Disaster Loan Outreach Center in Kihei on June 15, operating weekdays 9 a.m.–6 p.m., to assist Maui applicants in person.
Businesses can apply for disaster loans up to $2 million, homeowners up to $500,000, and renters/homeowners up to $100,000 for personal property, with mitigation loans available for 20% above verified damage.
Interest rates start at 4% for businesses, 3.625% for nonprofits, and 2.875% for homeowners/renters; grace period for physical damage applications ends August 13, economic injury applications due January 7, 2027.

Maui loan assistance center opens in Kihei

As announced by the U.S. Small Business Administration, customer service representatives are available at the new Disaster Loan Outreach Center at South Maui Community Park gymnasium, 1501 Liloa Dr., to answer questions and help applicants complete disaster loan paperwork. The site opens Monday, June 15 at 9 a.m. and operates Mondays through Fridays from 9 a.m. to 6 p.m.

Walk-ins are accepted, and in-person appointments can also be scheduled in advance. The agency says other centers continue operating in Hawaii County and Honolulu County, including a Hawaii County Office of Aging location that closes permanently on Wednesday, June 17 at 4 p.m.

Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA, says the centers help small businesses and residents apply for loans and understand the wider range of recovery programs available after disasters.

Loan terms, eligibility and deadlines

Businesses and private nonprofit organizations can apply for business physical disaster loans of up to $2 million to repair or replace damaged real estate, equipment, inventory, machinery, and other assets. Homeowners can apply for up to $500,000 to repair or replace a primary residence, while homeowners and renters can borrow up to $100,000 for personal property such as furniture, clothing, cars, and appliances.

Applicants may also qualify for an increase of up to 20% of verified physical damage for mitigation work, including pipe, wall, and attic insulation, weather stripping, and storm windows. The SBA’s Economic Injury Disaster Loan program is also available to small businesses, small agricultural cooperatives, and private nonprofit organizations, including faith-based groups, for working capital needs tied directly to the disaster, even when no physical damage occurred.

Interest rates are as low as 4% for businesses, 3.625% for nonprofits, and 2.875% for homeowners and renters, with terms of up to 30 years. Interest does not begin to accrue, and payments are not due until 12 months after the first loan disbursement; the SBA says it determines eligibility, loan size, and terms based on each applicant’s financial condition.

The deadline to return applications for physical property damage has passed, but the agency is accepting submissions during a 60-day grace period beyond the June 14 deadline. That grace period ends on August 13, and the deadline for economic injury applications is January 7, 2027.

Our earlier coverage of the VA Partial Claim Program outlined a new mortgage relief tool designed to help Veterans who are behind on their payments avoid foreclosure. We explained that servicers can place eligible borrowers on a three-month trial payment plan and, if they succeed, cure the default with VA reimbursing overdue amounts that are repaid when the loan is paid off, refinanced, or the home is sold.

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