GrowOKC Fund to provide $2 million for local small businesses
The City of Oklahoma City and the city's Economic Development Trust have committed $1 million to i2E Inc. fund.Published: Thursday, August 29, 2013 By: Staff Reports Source: The Oklahoman
A partnership between the City of Oklahoma City and i2E Inc. has expanded the financing options by $2 million for Oklahoma City-based small businesses seeking capital to grow their ventures and create new jobs.
The city, i2E and the Oklahoma City Economic Development Trust created the $2 million GrowOKC Fund through a Memorandum of Understanding, which was unanimously approved by the City Council on Aug. 13.
i2E committed $1 million to the new fund from its GrowOK Fund, which is part of the federal State Small Business Credit Initiative (SSBCI) funds it manages on behalf of the U.S. Department of Treasury and the Oklahoma Department of Commerce.