Small Business Grants in Oklahoma
There are many difficulties involved with running a small business, not least of which is having too little working capital to be able to expand the business. As a result of this fact, small business owners will often try to obtain financing in the form of grants and loans. The U.S Small Business Administration is the government agency with the responsibility for issuing federal financing, and their Oklahoma office can be found in Oklahoma City.
While the SBA regularly provides small business owners with low interest loans, they are much more stringent when it comes to free grants. In fact, their regulations mean that very few small businesses meet the criteria to be awarded a grant. The SBA insist that small businesses must operate in specific industries, such as:
- science and technology
Two programs, Small Business Technology Transfer and Small Business Innovation Research, regulate eligibility for grants. To be accepted onto these programs a small business must be researching or developing innovative technology.
It can be disappointing to discover that very few small businesses in Oklahoma are eligible for free government grants. However, it is important to emphasize the fact that there an abundance of assistance available, both financial and technical, to small businesses owners. The organizations highlighted below are just three examples of many.
Oklahoma State Office
The Oklahoma state office provides a wealth of official information on business matters. They categorize the information on offer based on whether an entrepreneur is starting, or in the process of running, a business. In terms of small business operations, the state office provides:
- information on small business health insurance from the Department of Commerce
- information on the Small Business Linked Deposit Loan Program, which allows the Oklahoma State Treasurer to offer financial institutions low interest certificates of deposit, thereby encouraging lending to small businesses
- information on small business management, in conjunction with the use of the state's business planning tool
Oklahoma Small Business Development Centers
Oklahoma Small Business Development Centers combine support programs at a local, state, and federal level to provide a comprehensive business assistance service. Since 1984 the staff of Oklahoma Small Business Development Centers have helped over 150,000 people to start and run a small business. Some of the specific services they provide include:
- library and online courses on starting and running a small business, arranging financing, and eventually improving and expanding the business
- seminars and workshops taught by trained professionals with many years of business experience
- free consultancy on business topics such as accounting and taxes, franchising, e-commerce, and market research
Oklahoma Department of Environmental Quality
The Oklahoma Department of Environmental Quality runs the Small Business Assistance Program. This program provides technical and regulatory advice to small business owners on a wide range of environmental issues. Information is provided regarding federal as well as state regulations.
If you are a small business owner in Oklahoma looking for a free grant then the SBA can provide you with information, but it is unlikely that they will grant you financing. The organizations listed in this article can offer you advice regarding financing, and show that there are alternatives available to the SBA.
Posted in Business Service Post Date 02/16/2016