Whether you are establishing your business or have been in business for many years, you require a broad range of financing options to support your growth opportunities. You need financial solutions that are designed with an eye for your specific needs; delivered by an experienced Business Expert that has the time to understand the intricacies behind your business and industry. We have the capital, knowledge and ability to help
Immediate access to cash when you need it most.
Fund large purchases and expenses over the long term.
Get more from your real estate.
Bank of Oklahoma is a SBA Certified and Preferred Lender, which means easier applications and quicker approvals for your business. SBA Loans are made and administered by Bank of Oklahoma and the SBA guarantees a portion of each loan.
Because we are SBA Certified, we participate in most of the loan programs available by the SBA including the SBA 7(a) Loan, SBA 504 Loan, SBA Express and others.
Eligibility - A wide array of owner operated and managed-for-profit businesses - from retail to wholesale, from manufacturing to service - are eligible for loans. Proprietorships, partnerships, and corporations are eligible for the SBA programs.
SBA Guarantee - The SBA guarantees a percent of loans made to businesses by banking or lending institutions. While the SBA does not make the loans, they provide the SBA Guarantee that these loans will be repaid, thus eliminating some of the risk to the lenders. The percent of the loan that the SBA will guarantee depends on the type of loan program.
Rates and Terms - Interest rates can be adjusted monthly, quarterly or semiannually, and a ceiling can be placed on the rates for the life of the loan. Fixed rates are available under certain circumstances. Terms SBA Loans depend on the use of the proceeds, with maximum terms ranging from 7 years for working capital, to 25 years for buildings and real estate.
Start planning today for your business financing, refinancing or expansion needs with the support of the Small Business Administration! Contact Bank of Oklahoma to learn more about the SBA Loan Programs available to businesses.
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