Small Business Linked Deposit Program (Oklahoma)
Last modified on February 12, 2015.
|Applies to States or Provinces||Oklahoma|
|Name||Small Business Linked Deposit Program (Oklahoma)|
|Policy Category||Financial Incentive|
|Policy Type||Loan Program|
|Affected Technologies||Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric (Small), Solar Photovoltaics, Wind energy|
|Program Administrator||Oklahoma Office of the Treasurer|
The Small Business Linked Deposit Program provides below-market interest rates for qualified small businesses and certified industrial parks through local financing sources. Loans are for a two-year term and may be renewed for three additional terms in accordance with guidelines of the State Treasurer’s office. In Enterprise Zones, loans may be for three years with a three-year renewal and a two-year renewal. In Priority Enterprise Zones, loans may be for five years with a three-year renewal. A small business may request funding of up to $1 million. The limit on the amount of funding an industrial park may request is $6 million. The amount that will be funded is based on the number of jobs that will be created or preserved because of receipt of a low interest loan.
|Contact Name||Sherian Kerlin|
|Department||Oklahoma State Treasurer|
|Division||Linked Deposit Loan Programs|
Authorities (Please contact the if there are any file problems.)
|Authority 1:||Linked Deposit Programs|