Areas Served: ALFALFA, ATOKA, BEAVER, BECKHAM, BLAINE, BRYAN, CADDO, CARTER, CHOCTAW, CIMARRON, COAL, COMANCHE, COTTON, CUSTER, DEWEY, ELLIS, GARFIELD, GARVIN, GRADY, GRANT, GREER, HARMON, HARPER, JACKSON, JEFFERSON, JOHNSTON, KINGFISHER, KIOWA,
The Rural Enterprises of Oklahoma, Inc Microloan Program provides small, short-term loans to Oklahoma small business concerns and certain types of not-for-profit child-care centers.
The SBA makes funds available to specially designated intermediary lenders, which are nonprofit community-based organizations with experience in lending as well as management and technical assistance.
These intermediaries make loans to eligible borrowers.
The maximum loan amount is $50,000, but the average microloan is about $13,000. How Microloan Funds May Be Used Microloans may be used for the following purposes:
¢Working capital
¢The purchase of inventory or supplies
¢The purchase of furniture or fixtures
¢The purchase of machinery or equipment.
Proceeds from a microloan cannot be used to pay existing debts or to purchase real estate.
Contact InformationRural Enterprises of Oklahoma, Inc
Address: 2912 Enterprise Blvd
City: Durant
State: Oklahoma
Website:
http://www.reiok.org/programs/rei-business-lending/
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