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Business Programs Success Stories
Oklahoma
Business and Industry Guarantee Loan Program
Outline of Need:
The Cimarron Trailers company manufactures aluminum horse trailers tailored for the rodeo and horse show industry. There are currently 19 dealers in 26 locations. Cimarron Trailers have 60 variations on their 4 base models of aluminum trailers.
How Rural Development Helped:
This company was awarded a B&I loan in the amount of $2,950,000.
The Results:
They currently employ 120 and plan to create another 30 new jobs for the Chickasha community
Rural Business Enterprise Grant
Outline of Need:
Medicine Park EDA is establishing a Revolving Loan Fund Account in the amount $99,000 that will assist small and emerging private businesses in the area. An internet service that will provide high speed internet service to Medicine Park and a motorcycle apparel store that will be expanding their business.
The Results:
Two businesses will be assisted with the initial loan funds.
Section 9006 Energy Grant
Outline of Need:
COD Heat & Air Conditioning, Inc. of Perry, Oklahoma is proposing to install a new Rheem HVAC system, replace windows and new awnings. The estimate return on this project’s improvements is 10 years. The new improvements will save 30% of energy.
The Results:
An Energy Efficiency Improvement grant was awarded in the amount of $4,432. One business was assisted through this program.
Intermediary Relending Program
Outline of Need:
The Citizen Pottawatomi. Nation project earmarked $750,000 in IRP loan funds will be used to establish a revolving loan fund to serve as an alternative financing source for rural businesses throughout the state of Oklahoma.
The Results:
Potentially over 100 jobs will be created.
Rural Business Opportunity Grant
Outline of Need:
Plains Grains, Inc. will establish an information center and data base that will be utilized by the wheat industry in Oklahoma. Information will be available to wheat producers, grain operators, millers, and bakers. Plains Grains, Inc. is designed to assist all levels of the wheat supply chain, both domestically and internationally, by providing wheat quality information to industry members.
How Rural Development Helped:
$50,000 was awarded for this project
The Results:
Up to 2,000 jobs could be created as a result of this project.
Rural Economic Development Loan Program
Outline of Need:
The Northpark Professional Center project lies within Caddo County which is one of our fourteen targeted pervasive poverty counties. The project is still under construction. Approximately 3 jobs are projected to be created directly and approximately 30 indirect jobs will be created within the business enterprises which will lease the space. These new jobs for a Town with a population of 6645 are a significant impact in addition to the increase in sales tax revenues it will generate for the benefit of the Town.
How Rural Development Helped:
Our $352,000 REDL was used with $122,000 of supplemental funding to remodel, expand and equip a professional building to lease by business enterprises in the rural town of Anadarko.
The Results:
Potentially 33 jobs will be created.
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