The OKC Rescue Program launched in April to help Oklahoma City small businesses and nonprofits continue recovering from the financial impact of COVID-19. The response was strong as businesses could apply to up to 3 programs. In just three months, we received more than 850 applications. Of those, some 500 applications were qualified from more than 300 businesses and nonprofits, committing approximately $5 million in total funding. Businesses could apply for each of the 3 programs.
The program was designed to help the most vulnerable businesses. To qualify, the business or nonprofit must be located in Oklahoma City with 100 or fewer employees, and be either a minority-owned business, located within a Qualified Census Tract (majority low-income neighborhoods) or able to demonstrate economic impact of COVID-19. In the coming months, phase two of the relief program will focus on workforce development and training.
The OKC Rescue Program is administered by the Alliance for Economic Development of Oklahoma City and is funded by the City of Oklahoma City’s allocation from the federal American Rescue Plan Act. For details, visit www.okcrescueprogram.com.