The U.S. Small Business Administration is in Pahoa offering low-interest loans to victims of Tropical Storm Iselle. ADVERTISING The U.S. Small Business Administration is in Pahoa offering low-interest loans to victims of Tropical Storm Iselle. Loans are available to homeowners,
The U.S. Small Business Administration is in Pahoa offering low-interest loans to victims of Tropical Storm Iselle.
Loans are available to homeowners, renters, nonprofit organizations and businesses in Hawaii County that received damage related to the storm from Aug. 7 to 9.
SBA officials are available at Pahoa Community Center to process applications and answer questions, said spokesman Gary Colton.
The representatives arrived Wednesday and will be at the center at 15-2910 Kauhale St. through Nov. 6.
Homeowners can borrow up to $200,000 to repair or replace their primary residence. Homeowners and renters can borrow up to $40,000 to replace personal property.
Business owners can borrow up to $2 million for property damage and to cover economic loss caused by the storm. That can include mortgage payments and salary costs, Colton said.
Application deadlines are Dec. 22 for physical damage and July 22 for economic injury.
Colton said he encourages anyone who needs assistance to speak with one of the representatives to see if they qualify.
Applying is free and applications can be canceled, Colton said.
A property inspection is required and it could take two to three weeks to determine if someone qualifies, he said. Property owners also can receive loans to cover costs of repairs already done if they documented the damage.
If someone is in the path of the June 27 lava flow and is worried their home or business will be lost anyway, Colton said they can choose to use the loan for relocation instead of repairs.
Applications also can be filled out online at disasterloan.sba.gov/ela.
SBA can be reached at 800-659-2955.
Email Tom Callis at tcallis@hawaiitribune-herald.com.
