The September 11th attack
Small-business loans available for employers of reservists

Advertiser Staff

Hawai'i small businesses that employ military reservists who are called to active duty by President Bush in response to the Sept. 11 terrorist attacks may qualify for Military Reservist Economic Injury Disaster Loans from the U.S. Small Business Administration.

The program provides loans to eligible small businesses to cover operating expenses that would have been met, but cannot because of the loss of an essential employee who was called to active duty.

"We all recognize that Hawai'i has a high military presence and a high percentage of reservists and veterans," said Andrew K. Poepoe, Hawai'i district director for the Small Business Administration.

Small businesses can apply for military reservist disaster loans of as much as $1.5 million if they have been financially affected by the call-up of an employee. Loan proceeds may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid.

Interest on the loans is 4 percent, with a maximum term of 30 years.

Businesses interested in applying for the loans can call the Sacramento Disaster Office at 800-488-5323 for information. Additional information about the loans, or Economic Injury Loans, is available at the administration's Web site, sbahawaii.org.

The administration also offers small firms advice and assistance regarding financial assessment, loans, cash-flow analysis, marketing and other management issues.

Business owners can call 522-8130 for appointments and information.