City opens 2nd phase of small business program

We all have favorite local businesses. Maybe it’s the restaurant or coffee shop near your home, your tailor or a favorite specialty or gift shop. Oklahoma City is known as a generous city, so you probably also have favorite causes that help others in our city. As our community continues to respond to COVID-19, you can help these businesses and nonprofits by telling them about an important support program.

Starting Aug. 4, Oklahoma City business owners and 501(c)3 nonprofits with 100 or fewer full-time-equivalent employees may go to okcSmallBizHelp.com to apply for COVID-19 disaster relief funds from the city of Oklahoma City’s Small Business Continuity Program. The program is accepting applications for the second phase of the program, funded with $12 million from the CARES Act.

The Small Business Continuity Program is a partnership of the Alliance for Economic Development of Oklahoma City, the city of Oklahoma City and the Greater Oklahoma City Chamber. The purpose of the program is to help bridge financial needs of small businesses and nonprofits affected by the COVID-19 pandemic. There are three different ways a business or nonprofit can get help.

The reimbursement program offers up to $100,000 for either lost revenue or payroll, rent, utilities and other operational expenses. The retrofit program provides up to $25,000 for sanitizing equipment, furniture, fixtures or renovations needed for social distancing. This includes the city’s new streateries permitting process that allows restaurants to expand seating onto sidewalks or parking spaces. For businesses or nonprofits needing one-on-one guidance or advice, the technical assistance program offers up to $10,000 for a subject matter expert in legal, financial, human resources, marketing or other fields.

Read more at The Journal Record