Accessing financing or grants for a new business may be difficult. The State of Oklahoma does not offer specific financing or grant programs for new small businesses.
In reality, most new businesses must be self-financed by their aspiring owner(s). There are no general small business startup grants. Additionally, it is often challenging for such owners to meet the initial lending criteria required by banks and other lenders (e.g., personal cash injection, available collateral assets, credit rating and more).
There are several ways to fund your new business, including using your own savings and raising money from friends and family. You can also apply for a bank or micro loan, secure a federal loan through the SBA or seek credit through personal financing. You can also check with the Oklahoma Small Business Development Center or your local Chamber of Commerce to see if any local grants are available.
Click the button below to see the SBA’s guide to funding your business.
