First Fidelity Bank is proud to be a provider for the new
Oklahoma Business Relief Program (OBRP).
Has your business been affected by COVID-19? A grant from the state of Oklahoma that uses Federal CARES Act funds could help get your business back on its feet. And, since it’s a grant, you don’t have to pay it back!1
Unfortunately, we are unable to accept and process additional grant applications at this time. This is due to the large number of grant applications across the state of Oklahoma and extremely limited funds. We are just not able to push more applications through the state system. We apologize and are very disappointed we are unable to help more businesses at this time.
Here’s what you need to know:
- Maximum per grant is $25,000
- Grant amount is equal to two months of the average total of your payroll.2 You may choose from:
- The average of your 2019 total payroll; or,
- The average of your January-February 2020 total payroll
- Funds must be used for business expenditures, such as payroll, inventory, equipment, and working capital.
- Fees apply based on the amount of the grant received:
- $0 - $2,500 Grant: $100
- $2,501 - $10,000 Grant: $250
- $10,001 - $25,000 Grant: $500
Applications accepted from 6/29/2020 – 7/10/2020 and are accepted on a first-come, first-served basis. To qualify, businesses must meet all the following conditions: (1) Business must be located in Oklahoma and be registered and in good standing with the Oklahoma Secretary of State; (2) Must be in good standing with the Oklahoma Tax Commission; (3) Must have a revenue loss of 25% or more from March 2020 through May 2020 due to reasons substantially related to COVID-19; (4) Business must have operated continuously in Oklahoma on or before 1/1/2020. Ineligible companies and industries include: publicly traded companies; government entities or agencies; banks, credit unions, life insurance companies, finance companies, factoring companies, investment companies, mortgage companies, bail bond companies, and other businesses whose stock in trade is money and mortgage companies; private clubs; any company that is receiving a benefit from the OK CARES funds from a state agency program, Oklahoma County, Oklahoma City, or Tulsa County; lobbying firms; businesses that generate any part of its income from gambling activities, adult activities or activities performed in violation of state or federal law; recipients of Oklahoma Manufacturing Reboot or Oklahoma Bounce Back Program. 1 OBRP funds are not a loan. The grant funds do not need to be paid back unless it is determined that the business application or expenditures were fraudulent. 2 Payroll costs consist of compensation to employees (whose principal place of residence is the United States) in the form of salary, wages, commissions, or similar compensation; cash tips or the equivalent (based on employer records of past tips or, in the absence of such records, a reasonable, good-faith employer estimate of such tips); payment for vacation, parental, family, medical, or sick leave; allowance for separation or dismissal; payment for the provision of employee benefits consisting of group health care coverage, including insurance premiums, and retirement; payment of state and local taxes assessed on compensation of employees; and for an independent contractor or sole proprietor, wage, commissions, income, or net earnings from self-employment or similar compensation.