Economic Injury Disaster Loans Available For Small Buisnesses In Disaster Areas
Release Date: May 23, 2006
Release Number: 1640-014
» More Information on Hawaii Severe Storms, Flooding, Landslides, and Mudslides
HONOLULU, Hawaii -- If your small business suffered economic injury as a result of the severe storms, you may be eligible for financial assistance from the U.S. Small Business Administration (SBA).
The SBA's Economic Injury Disaster Loan (EIDL) Program is available to small businesses in the City and County of Honolulu and Kaua’i County that suffered economic injury from the disaster beginning February 20 to April 2, 2006. Economic injury is the inability of a business to meet its obligations as they mature and to pay its ordinary and necessary operating expenses.
Loans up to $1.5 million are available to provide relief from economic injury caused directly by the disaster and permit a business owner to maintain a reasonable working capital position during the recovery period. Economic injury assistance is also available regardless of whether the business suffered any property damage.
Federal and state representatives will be canvassing the area beginning Wednesday, May 24, to provide information to businesses regarding the program. To request an application or to learn more about the EIDL program, call the SBA at 800-659-2955 or 817-267-4688 (TTY) for the speech- or hearing-impaired.
FEMA manages federal response and recovery efforts following any national incident. FEMA also initiates mitigation activities, works with state and local emergency managers, and manages the National Flood Insurance Program. FEMA became a part of the U.S. Department of Homeland Security on March 1, 2003.
Last Modified: Wednesday, 24-May-2006 07:27:22