The Durant Industrial Authority (DIA) is pleased to announce the Durant Small Business Grant Program to assist with growth and retention of small businesses.
Donor Name: City of Durant
Type of Grant: Grant
Size of the Grant: $500 to $5000
These are one-time awards in the amounts of $500 to $5000.
A business may qualify for consideration provided it meets all of the following:
- Must be a for-profit small business. For the purpose of this grant, a small business is defined as a business entity with fifteen (15) or fewer employees. Employees include the owner, part-time, and full-time employees. Not-for-profit businesses, organizations and entities are not eligible for this program.
- The business must be located in a Low to Moderate Income Area/ New Markets Tax Credit census tract at the time of application. To determine if your business is located in an eligible area, review our “Determining If a Business Is located in an Eligible Area” instructions.
- Business must be located in a permanent structure, and applicant must be the owner or leaseholder of the property as a whole. Funds will not be granted to mobile businesses (such as food trucks), consignment vendors, or other businesses who rent/ lease space inside an existing business.
- The business and business owner(s) must be current on all local taxes or fees (real estate, personal property, business license, etc.).
- The business owner must submit an acceptable business plan. A sample business plan and list of components required to be included in the plan are included with the application packet.
- The business owner must complete one of the following:
- Completion of 30 hours of small business training (combination of small business courses and one-on-one counseling, provided by the Oklahoma Small Business Development Center, REI Women’s Business Center or Choctaw Small Business Development.)
- Successfully complete the Durant Small Business Bootcamp, as conducted by the Oklahoma Small Business Development Center. (Certificate of Completion is required).
Eligible Use of Funds
- Funds must be used to improve an existing small business. Examples of eligible uses include:
- Marketing and Advertising Expenses
- Equipment (New or Used)
- Computer Hardware or Software
- Development of Online or Mobile Presence
- Consultant Services
- Training and Certifications
- Capital Improvements such as building renovations
- Other Expenses as Approved by the DIA
- Please note that expenses must not be incurred until after the application has been approved and all applicable parties have signed the grant agreement.
For more information, visit City of Durant.