Cover photo for Oklahoma Marketing and Utilization Loan

Oklahoma Marketing and Utilization Loan

Oklahoma Agriculture, Food, and Forestry

About

This loan may be used to assist in the development or implementation of a sound domestic or foreign marketing plan for Oklahoma agricultural products, by-products or agritourism venues. New or better uses for existing agricultural products by the financing of feasibility studies, business plans or test marketing also qualify.

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

  • Loan must be used for product development and/or implementation of a sound marketing plan.

  • Applicants are encouraged to use the funds to seek new products, new markets and marketing ideas.

  • Proposals should encourage the creation of jobs and industry within the Oklahoma agricultural economy.

  • Applicants are encouraged to research potential markets for their products, estimate the financial possibilities of markets and present an action plan.

  • A realistic timeline for success must be presented.

  • Loans may not be used to purchase land, buildings or equipment. They may be used for feasibility studies, business plans, legal expenses, consultant fees, product development and marketing

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

Image Credit

FarmersGov

Updated April 2, 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.