Economic Injury Disaster Loans | Small Business Administration, US - Hawaii Office

(SBA EIDL, EDIL) --US SBA Economic Injury Disaster Loan applications are due Thursday, January 7, 2027-- The United States Small Business Administration (US SBA) provides Economic Injury Disaster Loans (EDIL) to small business, small agricultural cooperative, and most private nonprofit organizations located in a declared disaster area. Eligibility -Substantial economic injury means the business is unable to meet its financial obligations and pay its regular and necessary operating expenses -Loss of expected profits or a decline in sales is not considered substantial economic injury -EIDL provides the necessary working capital to help small businesses impacted by a disaster survive until normal operations resume -EIDL assistance is available only to small businesses when the SBA determines they are unable to obtain credit elsewhere -Businesses must meet the following criteria to qualify for economic injury: The business was directly impacted by the disaster, the business cannot cover expenses due to the disaster and/or debt payments, the business was physically located in the declared disaster area. The SBA can provide loans to help cover the costs and expenses that your business would have been able to handle if the disaster did not happen. The EIDL amount will depend on how much financial impact you have experienced and your company’s financial needs, even if you didn't suffer any property damage. A separate SBA Disaster Assistance program known as business physical disaster loans, https://www.sba.gov/funding-programs/disaster-assistance/physical-damage-loans#business-physical-disaster, covers property damage. A business may qualify for both an EIDL and a physical disaster loan. The maximum combined loan amount is $2 million. Use of proceeds -Working capital and normal expenses such as the continuation of health care benefits, rent, utilities, and fixed debt payments -EIDL funds cannot be used for expanding facilities, buying fixed assets, repairing physical damages, refinancing debt, paying out dividends or bonuses, or paying back loans to stockholders or principals Terms -First payment deferred for 12 months -No interest accrual for the first 12 months -The interest rate will not exceed 4% Maturity -Up to 30 years, with repayment term to be determined by ability to repay the loan -No pre-payment penalty or fees Collateral requirements -Required for loans over $50,000 -Real estate is the preferred collateral. Loans of $200,000 or less will not require the owner of the business to use their primary residence as collateral if it is determined the owner has other assets of equal quality and a value equal to or greater than the amount of the loan. How to apply Apply online for an SBA disaster assistance loan. SBA will send an inspector to estimate the cost of damage, once your application is completed and submitted. To find a US SBA Recovery Center and to schedule an appointment visit: https://appointment.sba.gov/schedule/ Locations: For all US SBA programs, the US SBA has a representative Monday-Sunday 10:00 am - 7:00 pm at the Waialua Recovery Center, Old Waialua Courthouse, 66 207 Kamehameha Highway, Haleiwa, HI 96712. Call (808) 460-8698 or visit the website, https://www.kakoomai.org/waialua . For business-specific disaster loan programs, the location is the Hawaii Small Business Development Center - Oahu, 677 Ala Moana Boulevard, 612, Honolulu, HI. Call (808) 945-1430, email [email protected], or visit the website https://hisbdc.org . Hawaii County, Business Recovery Center, Hawaii County Office of Aging, 1055 Kinoole Street, 101, Conference Room, Hilo, HI 96720. Open Monday-Friday 8:00 am - 4:00 pm .Walk-ins are welcome but in-person appointments can be scheduled in advance at https://appointment.sba.gov. For more information, visit the website, https://www.sba.gov/article/2026/04/15/sba-will-open-business-recovery-center-hilo