The State of Oklahoma through the Oklahoma Department of Commerce has announced an Oklahoma Business Relief Program designed to help small businesses in Oklahoma recover from the impacts of COVID-19. We confirmed today that agriculture is included in this program.
The program offers a grant of up to $25,000 for businesses that suffered an average monthly loss of 25% or more in revenue generated from business activities from March 1, 2020 through May 31, 2020 as compared to previous periods.
$50 million has been set aside for this program. It is a first come – first served program. $10 million of the total has been established for minority owned businesses as determined by birth certificate, US Passport, or Tribal ID.
Here is the link for the program rules and application information https://www.
okcommerce.gov/doing-business/ business-services/oklahoma- business-relief-program/.
Program applications are being taken by some commercial banks in Oklahoma. For a complete list of participating banks, please review the information contained in the link provided above.
Applications will only be accepted from June 29, 2020 through July 10, 2020. Distribution of the funds will begin on approximately July 17, 2020. We urge you to act quickly if you are interested in this program for Oklahoma-based businesses.