ARDMORE DEVELOPMENT AUTHORITY
410 W MAIN ST • ARDMORE, OK 73401
(580) 223-6162 • Fax: (580) 223-7825
New and expanding companies can utilize various financing programs through the state of Oklahoma, for projects in the Ardmore area.
The Oklahoma Industrial Finance Authority can loan up to 66% of the cost of land, buildings and fixed equipment – up to a maximum of $2 million for manufacturers. Loans are made to the Ardmore Development Authority who can re-loan the funds to the company. The Credit Enhancement Reserve fund bolsters the credit of revenue bonds issued by the Oklahoma Development Finance Authority to bolster the credit of revenue bonds issued for loans to Oklahoma businesses. Bonds are state tax exempt and may also be federal tax exempt.
Tax exempt loans for land, buildings and other equipment. Loans are only available to small businesses and can only be used for manufacturing projects.
The Small Business Linked Deposit Program provides loans of up to $1 million to small businesses and up to $6 million to eligible industrial parks at reduced interest rates through investment in eligible lending institutions.
Oklahoma authorizes public trust financing for economic development purposes. The Ardmore Development Authority, a public trust, has successfully completed many non-recourse bonds for industry.
Through its venture capital program, the Oklahoma Capital Investment Board (OCIB) facilitates investment in venture capital funds that focus on investing in quality companies.
Community Development Block Grants are available for infrastructure improvements necessary for new and expanding industries. Up to $100,000 is available for grants and up to $400,000 for low interest loans.
Incremental tax dollars from a new investment can be used to construct infrastructure and other public improvements that benefit the new company.
Available to local governments in conjunction with a for-profit entity for economic development projects. Infrastructure assets must be owned by the local government.
Source: Oklahoma Department of Commerce