Oklahoma didn’t just inspire an iconic musical, it’s also a wonderful state in which to operate a business. Lower taxes make this state attractive to entrepreneurs, but business owners also need to consider more challenging aspects of launching an enterprise in Oklahoma—like the local economy and the quality of the workforce. If you’re considering starting an organization in Oklahoma (or you’re already an OK business owner) you need funding. Take a look through the loans and grants below to discover if your business is eligible.
Department or Agency: Oklahoma Department of Agriculture, Food, and Forestry
Grant title: Oklahoma Healthy Food Financing Program
The Oklahoma Healthy Food Financing Program aims to promote the availability and sale of healthy food options in low-income and underserved communities. The program provides grants of up to $10,000 to build, renovate, or expand grocery and retail outlets to improve the availability of fresh produce and healthy foods. Eligible projects include new stores, small retailers, and renovations. Recipients must agree to accept Supplemental Nutrition Assistance Program (SNAP) benefits and allocate at least 30% of retail space to the sale of fresh, perishable foods, among other stipulations.
Department or Agency: Oklahoma Department of Agriculture, Food, and Forestry
Loan or Grant title: Agricultural Enhancement and Diversification Program Grants – Farm Diversification Grant or Loan
The Agriculture Enhancement and Diversification Program Grants were created to broaden the state’s production of a wider array of farming products. To be eligible, grantees must be over the age of 21 and a legal resident of Oklahoma. The Product Development and Research Grant or Loans may be used to fund research, studies, or cover test market and product development costs associated with creating or expanding an agricultural business to bring a new product to market. Research must be new and original—meaning, no prior studies can have been completed before. Funded research must result in a salable product in the end. Grants are up to $10,000, with awards over $2,500 having matching or in-kind requirements.
Department or Agency: Oklahoma Center for the Advancement of Science and Technology
Loan or Grant title: OCAST Health Research Grant
The Oklahoma Center for the Advancement of Science and Technology (OCAST) aims to improve health care for Oklahoma citizens and make the state more competitive in the field by funding projects that attract and keep health researchers in the state. OCAST is funding projects that explore the cause, diagnosis, and treatment of disease and improve patient treatment. The program is open to individual researchers, non-profits, and companies based in Oklahoma. Awards are up to $45,000 for one to three years.
Department or Agency: Oklahoma Center for the Advancement of Science and Technology
Loan or Grant title: OCAST Applied Research Support Program
The Oklahoma Center for the Advancement of Science and Technology (OCAST) is supporting innovative companies in Oklahoma within targeted industries (including aerospace, biotechnology, and energy diversification) to drive new knowledge or technology development and promote job creation. Applicants must be based in Oklahoma, with a minimum of 51% of project work completed within the state. Applicants may request up to $90,000 for proof-of-concept funding, or $500,00 for an accelerated project, though a 1-to-1 match is required.
Department or Agency: Oklahoma Department of Commerce
Loan or Grant title: 21st Century Quality Jobs Program
The Oklahoma Department of Commerce is offering a jobs program to refund employers up to 10% of an employee’s net benefit rate for up to 10 years. Applicants in target industries (see the program guidelines) commit to creating 10 new direct jobs as part of program requirements. New jobs are roles in qualifying industries that did not exist in the state in the prior six months. Employer compensation begins at 7% and increases to 10% once all 10 of the new roles are hired.
Department or Agency: Oklahoma Department of Agriculture, Food, and Forestry
Loan or Grant title: Agricultural Enhancement and Diversification Program Grants – Agriculture Event Grant or Loan
Agriculture Event Grants are designed to promote the creation of in-person experiences that positively impact the state of Oklahoma or a large geographic area within the state. Events should include an educational component and also highlight agricultural innovation. Applicants must be over the age of 21 and be a legal resident of Oklahoma. Grants are up to $75,000 and must demonstrate an equivalent positive economic impact.
Department or Agency: Oklahoma Department of Agriculture, Food, and Forestry
Loan or Grant title: Agricultural Enhancement and Diversification Program Grants – Value-Added Agriculture Grant or Loan
Value-Added Agriculture Grants support projects meant to produce, process, or market agricultural products. Proposals should clearly outline the feasibility for success in all phases, from conception to ingredient sourcing, marketing, sales, and revenue forecasts. Applicants and those consulting with them must have demonstrated experience in the area being proposed for funding. Applicants must be over the age of 21 and be a legal resident of Oklahoma. Grants up to $2,500 require no matching funds. Awards up to $10,000 have matching or in-kind requirements, while awards over $10,000 are considered loans.
Department or Agency: Oklahoma Department of Agriculture, Food, and Forestry
Loan or Grant title: Agricultural Enhancement and Diversification Program Grants – Veteran or Young Farmer Grant or Loan
Veteran or Young Farmer Grants are solely for Oklahoma veterans or farmers under the age of 45, who are beginning or expanding a farming or ranching business. Applications must provide a five-year plan, including details about how the project will generate income, remain viable, and demonstrate creativity when it comes to marketing goods. Experienced advisers are required to stay engaged and help ensure the applicant reaches their intended goals. Grants up to $2,500 require no matching funds. Awards up to $10,000 have matching or in-kind requirements, while awards over $10,000 are considered loans.
