Oklahoma Business Relief Program Reopens July 14
The Oklahoma Department of Commerce designated up to $50,000,000 received by the State of Oklahoma from the Federal CARES Act to help ensure the survival and stability of small businesses impacted by COVID-19. This grant program is available to Oklahoma companies who have suffered a revenue loss of 25% or more during March, April and May 2020, that is substantially caused by the impact of COVID-19. Grant amounts equal two months of average total payroll, not to exceed $25,000. Grant funds must be used for business expenses not covered or reimbursed by another source, such as other federal, state or city grants or insurance proceeds.
The first phase of the Oklahoma Business Relief Program (OBRP) launched on June 29, and the $50 million allocated toward the business grant program was used up in just over 24 hours.
Phase two of the Oklahoma Business Relief Program will begin at 8am on July 14 and will open up another $50 million. Businesses interested in participating in Phase 2 of OBRP should contact a participating financial institution in advance to begin the process. A list of participating financial institutions, program rules, and a pre-application form can be found on the Commerce website at okcommerce.gov/relief.