Deadline is Dec. 8 for drought-related loans
HONOLULU — The Hawaii Emergency Management Agency encourages qualifying businesses and organizations to apply by the Dec. 8 deadline for U.S. Small Business Administration Economic Injury Disaster Loans related to drought conditions in Hawaii, Kalawao and Maui counties that began Feb. 8, 2022.
The loans are intended to offset reduced revenues caused by the continuing drought situation. Loans up to $2 million to meet working capital needs caused by the disaster are available to qualifying small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations of any size, according to a news release.
The loans offer rates of 2.94% for businesses and 1.875% for private nonprofit organizations, with a maximum term of 30 years.
