SBA reminds nonprofits of Dec. 7 deadline for Hurricane Lala disaster loans

The US Small Business Administration (SBA) is reminding private nonprofit and faith-based organizations in Maui County that the deadline to apply for federal physical damage disaster loans related to Hurricane Lala is December 7, according to Maui Now.

Hurricane Lala impacted Maui County from August 14 to 16, and the SBA's disaster declaration also covers the City and County of Honolulu and Hawaiʻi County, the report said.

Eligible nonprofits can borrow up to $2 million with interest rates as low as 3.625% and loan terms up to 30 years. The SBA noted that borrowers do not owe interest or payments during the first 12 months after loan disbursement.

Applications can be submitted online at sba.gov/disaster. For questions, the SBA’s National Support Network Center can be contacted by phone or email, and telecommunications relay services are available for those with hearing or speech disabilities.