Cover photo for Oklahoma Farm Enhancement and Diversification Grant: Marketing and Utilization Loan

Oklahoma Farm Enhancement and Diversification Grant: Marketing and Utilization Loan

Oklahoma Agriculture, Food, and Forestry

About

The Agriculture Enhancement and Diversification Program was designed to develop or improve uses for agricultural products, expand the state’s production of value-added products and to encourage diversified farming. The program provides funds in the form of grants or 0% interest loans. Proposals must clearly demonstrate the ability to directly benefit Oklahoma farmers and ranchers through the creation of new revenue streams.

Deadline dates for submissions are January 1st, April 1st, July 1st, and October 1st or the next regular business day if the Department offices are closed on the deadline date.

Marketing and Utilization Loan

Projects should assist in the development or implementation of a sound domestic or foreign marketing plan for Oklahoma agricultural products, by-products or agritourism venues. Projects may include feasibility studies, business plans, legal expenses, consultant fees, product development and marketing. Purchase of land, buildings and equipment is not allowed. There is no limit on funds applied for.

  •  Loans are a 0% interest rate with a 3-year deferred payment.

  • Loans greater than $18,000 will have a 3 year annualized repayments

  • Loans less than $18,000 will have to be a 5 year annualized repayment.

Eligibility

  • A marketing loan is to be used for product development and/or implementation of a sound marketing plan for Oklahoma agricultural products and by-products.
  • Applicants for the loan are encouraged to use the funds to develop new products and to seek markets and marketing ideas and to promote their products. The products should be new to the particular area targeted for the marketing promotion or should be an expansion of a use or uses of existing products.

Terms

The Board prefers proposals that will encourage the creation of jobs and industry within the agricultural economy of Oklahoma. Applicants are encouraged to research the potential market for their products, estimate the financial possibilities of these markets and present a plan of action in their loan application. A realistic time-line for success must be considered. The proposal should exhibit the expansion of jobs in the agricultural economy where the project will take place and the economic impact on the area.

Each loan application will be considered on an individual basis and its own merits. A 15 minute oral presentation to the Board is required. The Board reserves the right to reject any loan application. 

Similar Programs

Details

Organization

Oklahoma Agriculture, Food, and Forestry (ODA)

Financial Instrument

Grant

Maximum Award Amount

$10,000

Image Credit

formulanone

Updated July 15, 2021

This information was gathered from public sources. Ambrook is not responsible for or able to affect the results of any financial programs listed, nor are they responsible for any incorrect information that is listed or is on the hyperlinked external sites. All information is subject to change.