Hawaii County committee hears SBA briefing on disaster loans and mitigation assistance; closes communication 871

Maurice Fisher, a public affairs specialist with the Small Business Administration, told the Hawaii County Communication Reports and Council Oversight Committee on May 4 that SBA disaster loans are available to small businesses, nonprofits, homeowners and renters affected by recent storms and fires in the Kona and Hilo areas.

Fisher outlined three main loan types — business physical disaster loans, economic injury disaster loans and home disaster loans — and gave example interest rates, saying home loans are “as low as 2.87 percent,” business loans “as low as 4.4 percent,” and nonprofit rates about “3.62 percent.” He listed recent SBA disaster declarations that apply to the area and urged county officials to help spread information and direct residents to local assistance.

The message matters because the declarations unlock federal disaster loan programs that can provide both recovery and mitigation funding. “If your loan application is approved, you may be eligible for additional funds to cover the cost of improvements that will protect your property against future damage,” Fisher said, citing examples such as retaining walls, seawalls and sump pumps. He said mitigation assistance is generally available as an addition up to 20 percent of the approved physical-damage loan amount, with a maximum figure noted in the presentation for mitigation at $500,000 per home.

Fisher identified the specific disaster declarations during his remarks (transcript references: 21475 for downtown Hilo and declarations 21519 and 21520 for the Kona storm and floods) and said business loan ceilings are up to $2,000,000. He emphasized applicants do not need to request the full ceiling but only the amount needed for repair or recovery. Fisher also said the SBA maintains local coverage across the county (he is based in Hilo; colleague Philip Walls is stationed in Kona) and that staff will leave business cards and printed fact sheets with the council.

On application logistics, Fisher said applicants can apply online at the SBA disaster website or go in person to Business Recovery Centers (BRCs), where personnel will help fill out and submit paperwork. “The CRS that are there will help them start the paperwork and complete the paperwork,” he said, describing the in-person assistance as a one-stop way to make sure applications are completed correctly.

A council member asked whether loans may be used for rebuilding with resilience measures, and Fisher confirmed that mitigation funds can be applied to improvements that reduce future risks. “Mitigation…they can build that particular area back up, if not the same, better as it was,” Fisher said, adding the program is intended to allow upgrades to reduce future damage.

After the presentation, the committee voted to close the file on Communication 871. The chair called for the vote and the motion passed with nine ayes; no roll-call votes listing individual member votes were recorded in the transcript.

The committee said it would reconvene shortly for the next committee meeting. Materials and contact information from the SBA were left for distribution to residents and local organizations.