Cover photo for Oklahoma Basic and Applied Research Loan/Grant

Oklahoma Basic and Applied Research Loan/Grant

Oklahoma Agriculture, Food, and Forestry

About

This loan is available to individuals or entities wanting to conduct research for the purpose of business creation or expansion focusing on agricultural products or by-products.

The Oklahoma Agriculture Enhancement and Diversification Program provides funds in the form of 0% interest loans or grants for the purpose of expanding the state's value added processing sector and to encourage farm diversification. Funds, provided on a cost-share basis, must be used for marketing and utilization, cooperative marketing, farm diversification and basic and applied research. All funding proposals must clearly demonstrate the ability to directly benefit Oklahoma farmers and ranchers. Proposals are evaluated by a ten member Advisory Board with their recommendations for funding submitted to the Oklahoma State Board of Agriculture.

Eligibility

  • Applicants should focus research on use and processing of agricultural products and by-products.

  • Applicants should develop the expanded use of technology for processing of agricultural products and by-products in Oklahoma.

  • Application must not be aimed at business expansion or creation without regard to agricultural products use, must not include research that cannot reasonably be expected to result in a marketable product or cannot already have been duplicated by other research.

  • Applications should exhibit thoughtful planning, expansion of jobs in rural areas and a reasonable opportunity for commercialization.

Terms

Funds must be used to produce alternative ag products or process and/or market Oklahoma ag products. Activities must create rural economic development, and indicate the probability of success. Preference is given to applicants whose:

  • Industrial and non-food production processes use ag products

  • Food, feed and fiber products and uses are innovative and add value to ag products

  • Applications demonstrate a high probability of job creation and return-on-investment

  • Proposals feature research that is innovative as well as commercially plausible

  • Proposals demonstrate a high probability of rapid commercialization

  • Projects demonstrate a commitment for funding from other private or public sources or from the applicant

  • Proposals center efforts on rural locales

  • Principals are individuals, a group of individuals, an individual on behalf of a group or corporations that meet the criteria set forth: to market a product or formulate or implement a marketing plan for products not marketed through existing cooperatives

  • Proposals must have potential to create additional income for the farm unit

  • Proposals must provide new, innovative plans for marketing the product

Similar Programs

Details

Organization

Oklahoma Agriculture, Food, and Forestry (ODA)

Financial Instrument

Loan, Grant

Updated April 2, 2021

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