Low-Interest Federal Disaster Loans Available for Businesses and Hawaii Residents

Kīhei Bay Vista flood on December 6, 2021 during the “Kona low” weather system. Photo credit: Kevin J Olson

For businesses and residents impacted by severe storms, flooding and landslides during the “Kona low” weather system that hit Hawai’i from December 5-10, 2021, there are now disaster loans available at low interest rate with the US Small Business Administration.

Disaster loans of up to $200,000 are available for homeowners to repair or replace damaged or destroyed real estate, and up to $40,000 for homeowners or tenants to repair or replace personal property that has been damaged. damaged or destroyed. Loans have terms of up to 30 years at interest rates as low as 1.438%.

Businesses and private nonprofit organizations can borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. Loans of up to 30 years have interest rates as low as 2.83% for businesses and 1.875% for private non-profit organizations.

The Small Business Administration may also lend additional funds to businesses and homeowners to help pay for improvements to protect, prevent, or minimize the same type of disaster damage in the future.

Small businesses (including aquaculture), small agricultural cooperatives and most private non-profit organizations may be eligible for economic disaster loans to help meet working capital needs caused by the disaster, even if the company has not suffered material damage.


Businesses and residents of Maui, Molokaʻi, Lānaʻi, City and County of Honolulu and Kalawao can apply for a loan through “virtual assistance centers” starting Monday, January 31. Centers will operate Monday through Friday from 3 a.m. to 3 p.m. in Hawai’i and can be reached at 800-659-2955 or [email protected]


Applications are available for immediate download at https://disasterloanassistance.sba.gov/ela/s/ .

The deadline to file a property damage claim is March 29, 2022; claims for economic harm must be filed by October 28, 2022.

“We are pleased that the SBA has made federal assistance available following the record rainfall and extensive damage produced by the Kona Depression of December 2021,” said Hawaii Emergency Management Agency Administrator Luke Meyers. (HI-EMA).


HI-EMA worked with counties and the Federal Emergency Management Agency to assess the damage caused by the storm. Hawaii Governor David Ige submitted a formal request for a disaster declaration, which the SBA received on Wednesday.

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