American Savings Bank, N.a. · NYSE:ASBH
American Savings Bank, N.a — American Savings Bank — Mālama Maui SBA Disaster Relief Webinar (August 2023)
19 slides from American Savings Bank, N.a's conference presentation, Aug 21, 2023
Slide 1: Mālama Maui SBA Disaster Relief Webinar
Mālama Maui SBA Disaster Relief Webinar August 21, 2023 9 – 10am Copyright © 2023 American Savings Bank, confidential and proprietary, unauthorized dissemination violates ASB Code of Conduct
Slide 2: Moderators and Guest Speaker
Moderators Lawrence Pai Matt Orias Business Banking Director Business Banking Team Leader Guest Speaker Cynthia Cowell SBA Disaster Recover Team
Slide 3: U.S. Small Business Administration Disaster Assistance
U.S. Small Business | | B Administration S a | DISASTER ASSISTANCE Businesses © Homeowners © Renters | Nonprofits
Slide 4: Presidential Disaster Declaration
Presidential Disaster Declaration • In a Presidential Declaration, many Federal agencies provide assistance. • FEMA is the coordinating agency and delivers assistance designated in the declaration: • Individual Assistance (IA) - provides aid for temporary housing, emergency needs & necessary expense
Slide 5: SBA Low-interest Federal Loans: Disaster Property Damage
SBA Low-interest Federal Loans Disaster Property Damage • For businesses, nonprofits, homeowners and renters to repair or replace disaster damaged property not covered by insurance or other recovery funds 5
Slide 6: SBA Low-interest Federal Loans: Economic Injury Loans
SBA Low-interest Federal Loans • Economic Injury Loans for Working Capital Needs Small businesses and most private nonprofit organizations 6
Slide 7: Disaster Loan Program
Disaster Loan Program The SBA recently made effective a direct final rule to update the disaster loan program, for disasters declared on or after July 31, 2023: Increase from $40,000 to $100,000 for repair or replacement of household and personal effects Increase from $200,000 to $500,000 for re
Slide 8: SBA Disaster Loan Limits
SBA Disaster Loan Limits Types of Loans Borrowers Purpose Max. Amount Business Loans Businesses and private Repair or replace real $2 million * nonprofits estate, inventory, equipment, etc. Economic Injury Loans Small businesses and Working capital loans $2 million * private nonprofits Home Loans Ho
Slide 9: Making Recovery Affordable
Making Recovery Affordable The Small Business Act and additional disaster laws provide SBA tools to make disaster loans affordable: • Low-interest (below market) rates -set quarterly • Affordable long terms (either 15 or 30 years) • Payments are based on borrower’s ability to pay • In certain circum
Slide 10: Loan Eligibility
Loan Eligibility • Uncompensated losses (disaster losses not compensated by insurance or other recoveries such as FEMA grants, reimbursement by another party, settlement of a lawsuit, etc.) are eligible. • Applicants are not eligible if they have not complied with the terms of previous SBA loan agre
Slide 11: Loan and Insurance Requirements
Loan and Insurance Requirements Requirements for loan approval Borrowers must obtain and maintain appropriate insurance as a condition of most loans. Eligibility • Damaged property must be in a declared area. Hazard Insurance Credit History • Required on all secured loans. • Applicants must have a c
Slide 12: Application Filing Deadline
Application Filing Deadline • Filing deadline for Physical Damage - 60 days from the declaration date. • Filing deadline for Economic Injury Disaster Loans (EIDLs) – 9 months from the declaration date. In Presidential Declarations, FEMA may extend the filing deadline for all Federal programs, includ
Slide 13: SBA Disaster Loan Program
SBA Disaster Loan Program • SBA’s conducts comprehensive outreach throughout the disaster declared area with emphasis on “equity” and “underserved communities” as defined by Executive Order 13985. • SBA partners with local, regional, state and national governmental and nongovernmental organizations
Slide 14: Apply Online at the SBA Disaster Loan Assistance Portal
Apply Online at the SBA Disaster Loan Assistance Portal https://disasterloan.sba.gov/ela 14
Slide 15: SBA Office of Disaster Recovery and Resilience Point of Contact
SBA Office of Disaster Recovery and Resilience Rural Declaration Process Point of Contact Field Operations Manager - Donna S. Gross Deputy Field Operations Manager - Jennifer Sett Acting Field Operations Supervisor - Nicole Lizama Email FOCWFieldOpsSupport@sba.gov Telephone (916) 735-1500 15
Slide 16: SBA Office of Disaster Recovery and Resilience Contacts for the Public
SBA Office of Disaster Recovery and Resilience Contacts for the Public For More Information about SBA disaster assistance programs, go to: www.sba.gov/disaster Contact SBA’s Customer Service Center at: 1-800-659-2955 / 1-800-877-8339 (TTY) Or by email at: disastercustomerservice@sba.gov 16
Slide 17: SBA Field Operations Center – West
SBA Field Operations Center – West Director - Tanya N. Garfield Deputy Director - Jeffrey D. Lusk Field Operations Manager - Donna S. Gross Public Information Manager – Mark W. Randle Main Phone #: (916) 735-1500 17
Slide 18: Questions & Answers
AM ERICAN op Savings Bank Questions & Answers
Slide 19: Connect With Us Today!
CONNECT WITH US TODAY! Lawrence Pai Matt Orias Business Banking Director Business Banking Team Leader lpai@asbhawaii.com morias@asbhawaii.com (808) 539-7960 (808) 539-7951
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