Access to Capital
Helping small business owners build wealth
Financing your business can be uncertain and challenging, but PartnerTulsa is here to help. Tulsa has opportunities for every type of business, whether it is an idea or a successful venture ready for growth. Through a number of partnerships with the City of Tulsa, local CDFI’s, and partner organizations, PartnerTulsa has a breadth of programs that can help your development or business succeed.
Fast Facts
Commercial Revitalization Loans
Small Business Incentives
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Tulsa Economic Development Corporation (TEDC)
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Crowd-sourced Financing
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Financial Empowerment Center
TEDC is a local mission-driven Community Development Financial Institution (CDFI) that offers micro loans, capital and equipment loans, and community development block grants through Small Business Administration (SBA) and City of Tulsa Housing & Urban Development (HUD) funding programs.
Been turned down by your local bank? TEDC organization makes loans to small businesses just outside traditional bank lending guidelines. They administer City and County loan programs and provide lower interest rates and more flexible terms than traditional loans. Over the last five years, they have provided more than $150 million to nearly 800 small businesses.
In addition to grant-funded loans, TEDC has several other loan programs that allow them to assist small business owners in almost every aspect. TEDC collaborates with the SBA to help businesses secure long-term funding for owner-occupied commercial real estate through SBA’s 504 Program. They also work with the SBA on micro lending and local banks using the SBA’s 7A program to supply working capital and other small business operational needs.
Crowd-sourced financing is an increasingly common way to finance low to moderate capital amounts.
Kiva uses crowdfunded microloans as a force for good, creating a space where people can have one-to-one impact, and together, expand financial access. Kiva provides loans ranging up to $15,000 at 0% interest. These loans are available for most borrowers, including justice-involved individuals.
Dreamspring is an online lending platform that can lend to small business owners for a variety of expenses. The secured loans can be up to $15,000 while unsecured loans can be granted for up to $50,000.
Honeycomb Credit is a loan crowdfunding platform that allows anyone to invest in businesses in their community.Honeycomb Credit makes loans of up to $250,000. Honeycomb will charge interest on the loan and its application process is more like a traditional back. They are currently looking to launch small business crowdfunding campaigns in Tulsa.
Personal finances can be an important part of financing your small business. Banks may look at your credit score and personal finances when deciding about small business loans, that’s why the Tulsa Financial Empowerment Center (FEC) provides free, professional one-on-one financial counseling to all Tulsa residents regardless of income.
Need help managing or reducing your household debt? Want advice on how to build or restore your personal credit? Have a budget but need some specific tips on how to better save for retirement or another goal?
Certified financial counselors are available for personalized guidance and can help you deal with a wide range of personal financial issues. Counselors can help you:
- Take control of your debt
- Deal with debt collectors
- Improve your credit
- Build your savings
- Create a budget and create a plan to stick to it
- Find safe and affordable financial products
- Other services based on your needs
The FEC has also partnered with the Bank On coalition to help people find places to open bank accounts.
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