City leaders launch website for small business aid

Coronavirus

OKLAHOMA CITY (KFOR) – Metro businesses are feeling the sting of COVID-19.

City leaders are stepping up by teaming up to launch a new website.

“I think that long term we’re gonna be okay,” said Roy Williams, President of the Greater Oklahoma City Chamber. “But it’s gonna really be tough for a lot of businesses to come back.”

Okcsmallbizhelp.com offers qualifying businesses a number of lifelines.

For those with 15 employees or less, a cash grant could be available.

“Small business cash grant,” explained Williams. “Up to $10,000.”

For businesses with 50 employees or less, a pair of loan options are available.

These include a forgivable loan up to $50,000 for those who retain their current employees.

“Basically, the reason it would be forgiven [is] if they maintain continuity of their employees,” said Williams. “So it’s to retain employees.”

There’s another loan option available at a low interest rate.

“Fifty to one hundred thousand dollar loan, 10-year term, two percent interest,” said Williams. “Basically that’s to keep the company in business.”

Money for this program, at $5.5 million, comes from a bond vote in 2017.

The Chamber of Commerce and City Council members are hoping to help bolster the metro’s robust hospitality industry, which is feeling the brunt of this business shutdown.

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