Small Business Loan Assistance

The Small Business Loan Assistance program provides financing options designed to promote the expansion and growth of small businesses and increase employment within Oklahoma City.

Geographic Scope: Businesses located within the city limits of Oklahoma City

Loan Terms: 3 years to 15 years

Interest Rate: Fixed or variable rates, typically below market rates, as low as 5%

Eligible Uses:

• Improvements to existing buildings
• Land acquisitions of fixed assets (land and buildings)
• Construction of new facilities and expansion of facilities
• Purchase of machinery, equipment, and inventory
• Working capital

Eligibility Requirements:

• Business must be located within Oklahoma City city limits
• Job creation is required
• Existing businesses (in operation 6+ months with profits) given preference

Collateral: Collateral required to secure financing. Acceptable security includes:

• Existing unencumbered business assets
• Assets purchased with loan proceeds (equipment, real estate, furniture, fixtures, vehicles)
• Entity and personal guarantees
• Assignment of life insurance policies
• Other restrictions and criteria may apply

Staff Assistance: CAA provides technical assistance in:

• Business counseling
• Site location
• Business plan development
• Access to referral network
• Business establishment

Application Process

1. Contact CAA of OKC Financial Services at (405) 232-0199, ext. 3205 or bschwartz@caaofokc.org to schedule initial meeting
2. Discuss business project and applicable requirements in meeting
3. Staff will assist with full application process
4. Staff provides technical assistance including:
   • Business counseling
   • Site location assistance
   • Business plan development
   • Access to referral network
   • Business establishment support
5. Application reviewed and loan terms determined
6. Collateral documentation required