City Of Tulsa Leaders Work To Help Small Businesses During Coronavirus Pandemic

Many small businesses around the country are struggling to make enough money to pay employees and to keep their doors open because of the impact of COVID-19.

The City of Tulsa hopes to move some funds to help businesses get back on their feet.

Tulsa City Councilors are holding an emergency meeting Tuesday night to talk about moving some money within the budget to help small businesses impacted by the pandemic.

The Tulsa Economic Development Corporation along with the Mayor’s Office came up with the idea to move nearly $750,000 in vision funds to make a small business resilience and recovery fund for the City of Tulsa.

Tulsa City Councilors said these zero interest loans are intended to help small businesses with 50 or fewer full-time employees and employers would have three to five years to pay the money back.

Councilors hope the loans will give businesses some encouragement moving forward.

Councilor Ben Kimbro said “this is unique, and extraordinary, and heartbreaking to watch employers and entrepreneurs—the back bone of our city—struggling and facing very unique challenges. It’s tough.”

Councilors will need to approve the transfer of these funds at their virtual emergency meeting.

The meeting starts at 5:30 p.m. on Tuesday.