New program to support small businesses
This week, the Oklahoma City Urban Renewal Authority and the city of Oklahoma City are launching a new program to help Oklahoma City’s smallest businesses affected by the COVID-19 pandemic. Businesses with five or fewer employees located within designated Urban Renewal Areas may apply for a grant at www.ocura-ok.org for up to $10,000 through the Urban Renewal Authority Small Business Grant Program.
The Oklahoma City Council approved an amendment to the Community Development Block Grant Operating Agreement with OCURA, reallocating $400,000 in CDBG program income for the establishment of a micro-enterprise grant program to assist small businesses adversely impacted by the COVID-19 pandemic. Grant funds can be used for future payroll, rent or mortgage, utilities, business equipment, inventory, training and other necessary business expenses. Businesses with a low- to moderate-income owner, minority-owned businesses and women-owned businesses are priorities for the program.