Wednesday, July 24, 2024

Oklahoma Business Relief Program to have second phase

The Oklahoma Department of Commerce announced a second phase of the Oklahoma Business Relief Program, which will begin later this month.

Phase II of the OBRP is tentatively scheduled to begin on July 13. The Department of Commerce will give at least five-days notice before the start date.

Another $50 million has been designated for use in the Program.

Developed to help local businesses across the state overcome the economic challenges of COVID-19, the Oklahoma Business Relief Program offered vital funding for businesses that have suffered revenue loss due to the pandemic. The Program began on June 29 and lasted until the initial $50 million was depleted a few days later.

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.

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