SBA loans still available in flood cases
The Federal Emergency Management Agency is reaching out to local businesses that suffered flood damage, to make sure owners know about loan opportunities.
Businesses on Kauai or Oahu that suffered rain or flood damage from Feb. 20 through April 2 qualify for Small Business Administration Economic Injury Disaster Loans.
FEMA said federal and state representatives would canvass the flood areas Wednesday to spread the word.
Loans up to $1.5 million are available to provide relief from economic injury caused directly by the disaster and to permit a business to maintain reasonable working capital during a recovery period.
Some of the loans are available regardless of whether there was property damage, provided that harm to a business can be clearly traced to the heavy rains and floods.
More than 40 days of rain hit Kauai, collapsing a dam and causing other damage. On March 31, heavy rains on Oahu flooded Kahala Mall. Two stores never reopened and the Kahala movie theaters are still being repaired.
Businesses on Kauai or Oahu that suffered rain or flood damage from Feb. 20 through April 2 qualify for Small Business Administration Economic Injury Disaster Loans.
FEMA said federal and state representatives would canvass the flood areas Wednesday to spread the word.
Loans up to $1.5 million are available to provide relief from economic injury caused directly by the disaster and to permit a business to maintain reasonable working capital during a recovery period.
Some of the loans are available regardless of whether there was property damage, provided that harm to a business can be clearly traced to the heavy rains and floods.
More than 40 days of rain hit Kauai, collapsing a dam and causing other damage. On March 31, heavy rains on Oahu flooded Kahala Mall. Two stores never reopened and the Kahala movie theaters are still being repaired.
posted by ams at 3:39 PM
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