DUNCAN, Okla. (TNN) - Calling all Stephens County businesses - the Duncan Area Economic Development Foundation is offering grants of up to $5,000 as part of a business re-start program.
Businesses in any Stephens County town are eligible to apply for the grants that, unlike a loan, the businesses would never have to pay back.
"I think this helps them get the resources they need, to at least get started where they can start earning revenue again. What’s been critical in this entire COVID-19 situation is we’ve stopped the flow of money. When you stop the flow of money, it’s really tough. This is a way we can inject some money into the business community that we hope will spread to other businesses within the community,” said Duncan Area Economic Development Foundation President Lyle Roggow.
Applying for the grant is simple, just email email@example.com to start the process.
"There’s no way we can give anybody money if they don’t take the initiative to at least apply. If they apply and don’t receive it, just understand that the dollars are limited. We’re just trying to help as many as they possibly can,” Roggow said.
Roggow said a committee of people will go through each application, spreading money around to businesses that are experiencing the greatest need. That includes businesses in any town in Stephens County.
"If you are a business in Marlow or a business in Comanche or one of those other communities in Stephens County, most likely you’re going to end up shopping back in Duncan. We just felt that too often people misunderstand what DAEDF is about, we are Duncan Area Economic Development Foundation. We try to do things to help other areas where we can,” Roggow said.
Roggow said no sales tax money from the City of Duncan is being used to pay the grants. Every cent is the Duncan Area Economic Development Foundation’s own money.
There are some businesses that do not qualify for the grants, such as those that saw an increase in profits because of the coronavirus. The deadline to apply is May 12 and checks will be passed out to businesses on May 15th.