Oklahoma City Small Business Relief Applications Due Friday

Applications for the first emergency economic relief package in modern Oklahoma City history are due Friday.

The city approved the $5.5 million emergency program for small businesses last month. 

“A big portion of any economy is made up of small businesses,” Greater Oklahoma City Executive Vice President Jeff Seymour said. “This program is really designed to help two layers of businesses; those with 15 or less employees and businesses with 50 full-time equivalent employees.”

Businesses with fewer than 15 employees may qualify for cash payroll assistance up to $10,000. 

“We really want to make sure we are assisting those businesses that have made up the texture of Oklahoma City,” Seymour said.

Oklahoma City businesses with fewer than 50 employees could qualify for a forgivable loan up to $50,000 and a low interest loan for up to $100,000.

“We're trying to move, honestly, as quickly as possible the whole point here is to get resources in our small business owner’s hands so they can have some additional financial support through this crisis,” Seymour said.

He said the funds will be focused toward businesses forced to shut down by city mandates. The money comes from a voter approved fund meant to support local businesses.

“Hopefully it helps these folks hang on just a little bit longer while the federal programs come into play,” Seymour said.

More information can be found online at OKCsmallbizhelp.com