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Update on SBA’s Disaster Relief Efforts

Date and Time

September 9, 2024, 11:30 AM HST

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Meeting of Local Leaders

On Thursday, Francisco Sánchez Jr., the Associate Administrator of the US Small Business Administration (SBA), held an important roundtable meeting with approximately 30 local business and community leaders. This significant gathering was organized to review the SBA’s performance following the devastating wildfires that occurred on August 8, 2023. The session took place in Wailuku, where the venue provided by Maui Economic Opportunity (MEO) facilitated constructive discussions.

Acknowledgment of Local Challenges

Maui Economic Opportunity welcomed attendees into its Wailuku classroom, offering a comfortable space conducive to dialogue. Chief Executive Officer Debbie Cabebe recognized that many local leaders, along with individuals impacted by the recent wildfires, were not fully aware of the resources available through the SBA. Particularly concerning were the SBA’s loan offerings for homeowners in addition to business loans.

Resetting Expectations: A New Approach

During this meeting, Sánchez referred to the gathering as a unique opportunity for a "reset," labeling it as “Day One.” He highlighted that the SBA has been actively present on Maui since the very next day after the wildfires, establishing a local team comprised of 10 staff members who are dedicated to helping the community with the recovery process. With plans for further expansion, the SBA is committed to enhancing its service to those in need.

The Role of the SBA in Disaster Recovery

The mission of the SBA is clear: to provide essential subsidized credit to businesses while also offering disaster loans to both homeowners and businesses with notably low interest rates starting at 2.5%. Sánchez and his team actively listened to feedback during the meeting, addressing pressing questions around the SBA’s role in disaster loan relief. The focus was not solely on businesses but also encompassed assistance for homeowners and renters, along with inquiries about refinance options and the layering of financing options. Notably, the discussion also addressed concerns regarding the varied responses to questions and the urgent need for better dissemination of information about available programs.

How AI legalese decoder Can Assist

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Additional Resources

For anyone seeking more information about the SBA’s disaster assistance for homeowners, renters, nonprofits, and businesses affected by the Maui wildfires, further details can be accessed here. Additionally, information regarding SBA home and personal property loans is available here.

For those interested in learning about programs offered by MEO, further information can be found at meoinc.org, or you can reach them via telephone at 808-249-2990.

Summary of the Roundtable Discussion

The roundtable discussion hosted by MEO was instrumental in bringing local leaders together to voice their concerns and seek guidance on disaster recovery. It not only highlighted the importance of SBA assistance but also created a platform for collaborative efforts that will benefit the entire community moving forward.

Figure: A roundtable discussion hosted by Maui Economic Opportunity drew about 30 local business and community leaders Thursday in Wailuku. PC: MEO

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