The Small Business Loan Assistance program provides financing options designed to promote the expansion and growth of small businesses, thus increasing employment within the City of Oklahoma City. The loans provide access to capital by participating with local financial resources.
The business must be located within the city limits of Oklahoma City. Job creation is required.
The loan may be used for:
Loan Amount: Loan amounts range from $5,000 to $250,000.
Loan Terms: Loan payment terms range from 3 years to 15 years.
Interest Rate: The rate may be fixed or variable, and is typically below market rates, as low as 4%.
Collateral: Collateral will be sought to secure all financing. Acceptable security includes, but is not limited to:
Application Process: The initial process begins by contacting Financial Services at CAA of OKC to schedule a meeting to discuss the business project and applicable requirements.
Staff Assistance: Staff will not only assist applicants through the application process, but will also provide technical assistance in the following areas: