The Small Business Administration approved disaster loans for homeowners and businesses impacted by December’s Kona Low, which triggered flooding and landslides across the state.
Officials said residents of Honolulu, Maui, and Kalawao counties can apply for low-interest federal disaster loans starting Monday at 8 a.m.
Under the approved programs, homeowners can receive up to $200,000 to repair or replace real estate, and up to $40,000 for homeowners or renters for personal property that was damaged or destroyed.
Businesses and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets.
To assist with loan applications, SBA is also launching a Virtual Business Recovery Center and Virtual Disaster Loan Outreach Center, which will be open Monday through Friday from 3 a.m. to 3 p.m.
