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New Oklahoma Business Relief Program Available

June 29, 2020
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New Business Relief Program program through Oklahoma State Commerce. 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 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.

in a nutshell to be eligible businesses must have incurred a 25% reduction in revenue between March 20 and May 20 compared to 3 time frames:

  1. January 2019 through December of 2019
  2. March 2019 through May of 2019
  3. January 2020 through February 2020 

 Please use the link below for all the details, program rules, application etc...  Monday, June 20 is the first date applications may be made. 

https://www.okcommerce.gov/doing-business/business-services/oklahoma-business-relief-program/

 Thank You

 Danny Cochran

Senior Tax and Wealth Advisor

dcochran@dannycochran.com

 

DANNY COCHRAN

Wealth and Tax Strategy

Corporate Office: 816 South Main, Stillwater, OK 74074

Phone: 405-372-2880  Fax: 405-372-3774

 www.dannycochran.com

Serving Clients in Stillwater, Shawnee, Guthrie, and Oklahoma City