Friday, December 4, 2020

State of Oklahoma starting Oklahoma Business Relief Program

Developed to help local businesses across the state overcome the economic challenges of COVID-19, the Oklahoma Business Relief Program offers vital funding for businesses that have suffered revenue loss due to the pandemic.  

Gov. Kevin Stitt has designated $50 million in Federal CARES Act funds for the program. 

Starting Monday, June 29, Oklahoma businesses can request to apply for OBRP through participating financial institutions. The financial institutions will evaluate applications based on the program rules and determine if the business is eligible. Approved applications will be submitted by the financial institution to the Oklahoma Department of Commerce. Applications will be accepted on a first-come, first-served basis, and funds will be provided to the business through the financial institution. During the first phase of applications, at least 20% of the program funds will be designated for minority-owned businesses.

If your bank would like to participate in OBRP, please fill out the participation request form by CLICKING HERE.

For more information on the OBRP, visit the dedicated web page on the Oklahoma Department of Commerce’s website by clicking here.