Areas Served: Oklahoma City
The Small Business Loan Assistance Program is a unique financing program designed to promote the expansion and growth of small businesses, thus increasing employment within the City of Oklahoma City area.
This Fund enhances access to capital by participating with local financial resources.
This loan enables entrepreneurs to receive low interest loans for the start up and expansion of small businesses.
The program targets businesses with 20 or fewer employees.
Use of Loan: A – cquisition of land and buildings, construction and renovations of facilities, purchase of machinery, equipment, inventory and working capital.
– Loan Amount: Loan amount ranges from $5,000 up to $500,000. – Loan Terms: The loan term will range from 3 years to 15 years, as determined by the loan review committee.
– Interest Rate: The rate may be fixed or variable and typically below market rates, as low as 4%.
– Collateral: Collateral will be sought to secure all financing.
Acceptable security includes but not limited to: mortgages (business or personal); liens on business assets; other corporate and/or personal guarantees; and assignment of life insurance policies.
– Geographic Guidelines: Applicants must meet the geographic guidelines to initially qualify.
The business must be located within the city limits of Oklahoma City.
Contact InformationSmall Business Loan Assistance Program – Community Action Agency of Oklahoma City and Oklahoma/Canadian Counties, Inc
Address: 319 S.W. 25th Street
City: Oklahoma City
State: Oklahoma
Website:
https://caaofokc.com/
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