Collateral Support Program

The City of McAlester can partner with the private sector to facilitate development by sharing the risk of the project. Businesses that are unable to acquire necessary financing on their own may be eligible for public support. The City's Economic Development Fund can secure a private-sector loan with collateral support, in the form of a certificate of deposit.
 
Local Success Story
Krebs Brewing Company
An expansion project by Krebs Brewing Company included the City of McAlester securing a $1,000,000 loan to purchase capital equipment with collateral support. The collateral will be released back to the City once the loan is fully paid off.