SBA loans up to $2M available for small businesses affected by Oahu drought

Sep. 18—The U.S. Small Business Administration is offering low-interest federal disaster loans to small, nonfarm businesses on Oahu that lost revenues due to the drought in Honolulu County that began on July 20.

Small businesses that are not primarily engaged in farming or ranching, small agricultural cooperatives, along with small businesses engaged in aquaculture, and most private nonprofits of any size may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred.

By law, SBA makes these loans available when the U.S. Secretary of Agriculture designates an agricultural disaster. Secretary Tom Vilsack declared this disaster on Sept. 10, according to Hawaii Emergency Management Agency.

"What is clear is that the effects of climate change can be seen abroad and yet felt very close to home, " said HI-EMA Administrator Luke Meyers in a news release. "These monies can prove to be an indispensable aid for the struggling small businesses on Oahu affected by the drought."

To apply online or find more information, visit, call SBA's Customer Service Center at 800-659-2955 or email. Individuals who are deaf or hard-of-hearing may call 800-877-8339.

Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The deadline to apply is May 10, 2022.