The Federal Emergency Management Agency (FEMA) has provided over $5.6 million in assistance to nearly 2,000 households in Maui affected by the devastating wildfires. As part of the federal government's relief efforts, the White House and FEMA have approved a one-time payment of $700 per household for necessities such as clothing, food, or transportation. Additionally, FEMA has allocated funds for temporary housing in hotels and motels, with $1.6 million already disbursed for rental assistance.
The scale of the damage is expected to grow significantly as initial estimates indicate that numerous buildings were damaged or destroyed in the fire that ravaged the historic community of Lahaina. In comparison, FEMA provided $238 million in aid following the Northern California wildfire that decimated Paradise in 2018.
To expedite the distribution of aid, FEMA announced the opening of a disaster recovery center in Maui. This center aims to streamline the process and ensure more efficient assistance to survivors.
To be eligible for assistance, survivors must register with FEMA. Currently, approximately 4,400 Hawaii fire survivors have applied for critical need assistance, according to Jeremy M. Edwards, press secretary for FEMA. Longer-term aid, which may amount to thousands or tens of thousands of dollars, will likely require documentation. In addition to the hotel and motel programs and rental assistance, FEMA is offering home repair and personal property reimbursements to Hawaii fire survivors for needs that may not be covered by insurance.
"FEMA is dedicated to ensuring that all disaster survivors receive the full extent of eligible disaster assistance," stated Edwards.
Rebuilding After the Maui Wildfires
According to Karen Clark & Company, a leading disaster and risk modeling firm, the recent wildfires in Lahaina have caused significant damage, with over 2,200 buildings either damaged or destroyed by fire. In total, more than 3,000 buildings have been affected by fire or smoke. The estimated insured property losses from this disaster amount to a staggering $3.2 billion.
To assist the businesses and non-profit organizations impacted by these wildfires, the Small Business Administration (SBA) is encouraging them to apply for low-interest federal disaster loans. As an independent agency of the U.S. government, the SBA provides support to entrepreneurs and small businesses during times of crisis.
In the affected region, businesses of all sizes and private non-profit organizations in need can borrow up to $2 million. This financial assistance can be used to repair or replace damaged real estate, machinery, equipment, inventory, and other business assets. Additionally, these loans can also be utilized for making improvements to protect against future disaster damage.
SBA administrator Isabella Casillas Guzman emphasizes their commitment to providing swift and efficient federal disaster loans. Their customer-centric approach aims to aid businesses and communities in their recovery and rebuilding efforts.
For homeowners who have suffered damage as a result of the wildfires, disaster loans are also available. Homeowners can borrow up to $500,000 to repair or replace their damaged real estate. Likewise, renters and homeowners can receive up to $100,000 to repair or replace their personal property, including personal vehicles.
The interest rates for these loans are quite favorable. Businesses can secure loans with interest rates as low as 4%, while private non-profit organizations enjoy rates as low as 2.375%. Homeowners and renters benefit from an even lower rate of 2.5%. The terms of these loans can extend up to 30 years.
If you have been affected by the Maui wildfires and are in need of financial assistance, you can apply for aid or small-business loans through the Federal Emergency Management Agency (FEMA). For more information, visit https://www.disasterassistance.gov/. Let us work together to rebuild and overcome this disaster.
