Oklahoma’s state government and community has created no shortage of resources to help small businesses in the Sooner State. The Oklahoma Small Business Development Center, for example, offers free confidential advising services, as well as workshops and technical assistance. If you consider yourself an innovator, the Oklahoma Small Business Research Assistance (SBRA) can help you qualify for federal research funding. And we can’t forget Project 3810, a business incubator in Oklahoma City with private offices, climate controlled warehouse space, conference rooms, and WiFi.

There are several grants and other incentives available to Oklahoma small businesses. You may be able to receive free business services or reimbursement for qualifying projects through the OKC Rescue Program. The Quality Jobs program offers a cash rebate you can secure if your venture creates well-paying jobs and promotes economic development. Be sure to check out Oklahoma GrantWatch for up-to-date small business grants.

To qualify for a small business in Oklahoma, you must select a corporate structure, which can be a sole proprietorship, LLC, or corporation. Then, you’ll need to use the business name database to make sure your preferred name is available. You might also have to apply for a license, depending on your industry, and appoint a registered agent if you choose an LLC or corporation. Once you’re ready to operate, you can apply for small business financing. During the loan qualification process, lenders will typically review your credit score and business finances.

Not all small business loans in Oklahoma are created equal, making it important to shop around and compare your options. You can use Lendioto do so and save a lot of time and hassle in the process. If you’re a seasonal business, a line of credit may make sense. However, an SBA loan is ideal if you have good credit and hope to borrow a large sum of money.

With a business loan in Oklahoma, you can pursue your dream of owning your own business in the Sooner State. Just make sure you choose the right solution for your unique budget and goals.

An SBA preferred lender is a lender that’s been approved by the Small Business Administration to administer SBA loans without additional approvals from the SBA. Typically these lenders have years of experience and can approve SBA loans faster than non-preferred lenders.

SBA loans are backed by the government and offer lower interest rates than other types of small business loans. They typically require a minimum time in business of two years and a credit score of 650+.