OUR SERVICES

REVOLVING LOAN FUND PLAN

The mission of the Miami Area Economic Development Service, Inc. (MAEDS) is to assist existing and attract new business and industry to create expanded employment for area counties, resulting in an improved quality of life.

 

MAEDS administers eight revolving loan programs. The loan programs were initially funded at $4.6 million. Currently, the organization has loaned approximately $17 million. A seven-member Revolving Loan Fund Committee, formed by MAEDS, is responsible for the review of all loan applications submitted and monitoring existing loans.

 

Loan programs available through MAEDS include:

• MAEDS Loan Fund

  • Eligible Businesses: Business expansion and start-ups (manufacturing and service industry).​

  • Eligible Area: Ottawa, Craig, Delaware, Adair, Cherokee, Mayes, Nowata and Rogers counties.

  • Maximum Loan: 75 percent of project cost up to $250,000.

  • Interest Rate: Low fixed interest rate.

• EDA

  • Eligible Businesses: Business expansion and start-ups (manufacturing and service industry).

  • Eligible Area: Ottawa, Craig and Delaware counties.

  • Maximum Loan: 33 percent of project cost up to $150,000.

  • Interest Rate: Low fixed interest rate.

• CDBG

  • Eligible Businesses: Commercial and industrial.​

  • Eligible Area: City limits of Miami only.

  • Maximum Loan: $150,000.

  • Interest Rate: Low fixed interest rate.

• OKLEAP

  • Eligible Businesses: Commercial and industrial.​

  • Eligible Area: City limits of Miami only.

  • Maximum Loan: $25,000

  • Interest Rate: Low fixed interest rate.

• Micro Loan

  • Eligible Businesses: Commercial and retail.​

  • Eligible Area: Main Street of Miami only.

  • Maximum Loan: $5,000.

  • Interest Rate: Low fixed interest rate.

• Rural Development

  • Eligible Businesses: Commercial and industrial.​

  • Eligible Area: City limits of Miami only.

  • Interest Rate: Low fixed interest rate.

 

BUSINESS RETENTION AND EXPANSION

The Miami Area Economic Development Service, Inc. assists local businesses with retention of jobs and expansions.

 

Since its inception, MAEDS has assisted 176 existing businesses and 113 new businesses through the organizations loan programs resulting in the creation of more than 2,000 additional jobs. The organization also conducts a regular visitation program with existing industry.

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WORKFORCE DEVELOPMENT

MAEDS understand workforce availability, quality and cost are essential project requirements.

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Our state, regional and local workforce development, education and training providers will work to meet your specific project needs, requirements and expectations.

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MAEDS brings all parties to the table at your request for a shared, aggressive workforce recruiting, screening and referral process that leads to customized training and successful on-boarding of people from the area with the required skill sets, including production and other key occupations.

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SMALL BUSINESS DEVELOPMENT

Entrepreneurs create wealth in a community -- for themselves, for the people they employ and for the local economy. Today's small businesses are the innovators and job generators of tomorrow.

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How does this organization supports small businesses and entrepreneurs:

• Through shared office space options to help your business get started and grow,

• Working with existing partners to help you with the development of a business plan.

• Offering guidance and connections for financing, marketing and product development.

• Assisting with grants and loan applications.

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Our role is to work with other service providers in a our region to help entrepreneurs and small business owners overcome obstacles to business growth and development.