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A new round of funding of $50 million is available through the Oklahoma Department of Commerce Business Relief Program.
Developed to help local businesses across the state overcome the economic challenges of COVID-19, the Oklahoma Business Relief Program (OBRP) offers vital funding for qualifying businesses that have suffered revenue loss due to the pandemic.
Governor Kevin Stitt has designated $50 million in Federal CARES Act funds for the program.
Starting Wednesday, June 29, Oklahoma businesses can request to apply for OBRP through participating financial institutions.
The financial institutions will evaluate applications based on the program rules and make a preliminary determination of business eligibility.
Applications and supporting documents will be submitted by the financial institution to the Oklahoma Department of Commerce for a final determination of eligibility.
Applications will be accepted on a first-come, first-served basis, and funds will be provided to the business through the financial institution; however, at least twenty-percent of the program funds will be designated for minority owned businesses.