Second phase of small business assistance begins
The second phase of Oklahoma City' s Small Business Continuity Program is accepting applications for assistance from small business owners and non-profits with 100 or fewer full-time employees.
As reported Sunday by The Oklahoman, about $6.2 million in grants, loans and technical assistance has been allocated for the first phase. More than $5.7 million of that allocation has been approved, with about $3.9 million having been paid.
The second phase is funded with $12 million from the CARES Act passed by Congress in March. Only businesses and nonprofits located within Oklahoma City are eligible. Applicants are asked to
go to okcSmallBizHelp.com to apply for any or all of the follow three programs:
Reimbursement Program
Businesses and nonprofits can apply for up to $100,000
for either reimbursement of payroll, rent, utility and other operational expenses or to recoup lost revenue.
Retrofit Program
Businesses and nonprofits can apply for up to $25,000 to reimburse the cost of sanitizing equipment, furniture, fixtures or renovations needed for social distancing. This includes the streeteries program to allow restaurants to expand seating onto sidewalks or parking spaces.
Technical Assistance Program
Businesses and nonprofits can receive up to $10,000 in professional services to help with human resources, IT, financial or marketing needs due to COVID- 19 changes. Pre-qualified local subjectmatter experts will provide technical assistance in these areas and more.
The Business Continuity Program was launched just two weeks after the COVID-19 pandemic hit Oklahoma City
and was created by officials with the city, the Alliance for Economic Development of Oklahoma City and the Greater Oklahoma City Chamber.
The Small Business Continuity Program is the first emergency aid package directly from the city government to local businesses in modern Oklahoma City history.
“We opened the second phase with some additional types of support based on feedback we have received from the community,” said Cathy O'Connor, president of the Alliance for Economic Development of Oklahoma City .“Specifically, we included non-profits and revised the assistance programs to address the most pressing needs. Our small business community is vital to our Oklahoma City economy and this program is a critical way to get much-needed support to them quickly.”