2011 Impact Report
OCIB's economic impact has surpassed $1.5 billion.
Programs for Oklahoma Small Businesses Owners
The Capital Access Program
Due to action taken by the legislature through the passage of Senate Bill 1159 during the FY'12 legislative session, this program is currently not available to Oklahoma lenders as a credit enhancement tool for making loans to Oklahoma businesses.
Through OCAP, the Board provides credit insurance to banks and other lending institutions. OCAP allows these lending institutions to stretch their loan capabilities and offer more opportunities to Oklahoma’s small business borrowers.
OCAP is easy to use, has few restrictions and OCIB staff is available to provide training or answer questions to lending institution about enrollment. As of August 2011, the program has supported more than 1,500 loans totaling more than $47.5 million to Oklahoma businesses.
Loans vary in size from $1,000 to $700,000 and have been used to fund everything from farmers and ranchers to foundries and day care operators. A large majority of the programs recent loans are to businesses located in rural Oklahoma.
"We lend to a wide variety of businesses under the program, mostly for start-ups and businesses less than a year old. OCAP is very quick and easy to use and has been a good alternative to SBA guarantees for small loans."
- Susan Kerns, Stillwater National Bank
"If it were not for the OCAP loan from Great Plains National Bank of Hollis, Bullet Transportation would have dissolved and gone away."
- Jim A. Passmore, President, Bullet Transportation, Inc.
"Without the OCAP loan, I could not have afforded a new building for my growing business. The down payment and the interest rates charged by conventional banks were out of my budget. The loan officer at BancFirst was very helpful in filling out the needed paperwork and guided me step-by-step through the process."
- Josette Merrell, President, Josette's Pets, Inc.