Oklahoma Small Business Resource Guide - SBA

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CAPITAL U.S. Small Business Administration Loan Programs, Page B Information accurate as of 6/13/2012 7(a) Loans, continued Program Maximum Amount Use of Proceeds Maturity Maximum Interest Rate Structure Who Qualifies Benefit to Borrowers Export Express: Lender approves the loan. $500,000. Same as SBA Express plus can be used for Standby Letters of Credit for Export Purposes. Debt Refinance is not allowed. Same as SBA Express. Same as SBA Express. Same as SBA Express. Same as SBA Same as SBA express plus loan Express plus provides proceeds must be lenders with a higher used to support percentage guaranty export development which can encourage activity. them to make more loans to finance export development activities of small businesses. Standby Letters of Credit are also authorized. Patriot Express: Lender approves the loan. $500,000. Same as Standard 7(a). Same as Standard 7(a). Same as Standard 7(a). Same as SBA Express. Same as Standard 7(a) plus must be owned & controlled by one or more of the following groups equaling at least 51% total ownership: veteran, active-duty military, reservist or National Guard member or spouse of any of these groups, or widowed spouse of service member or veteran who died during service or of service connected disability. Same as SBA Express plus provides lenders with a higher percentage of guaranty which can encourage them to make more loans to qualified businesses. Community Advantage: Alternative Lenders assisting businesses located in areas with high needs. 504 Loans: Fixed Asset Project Financing provided from three sources. 7(a) Guaranty Fee Reference Chart $250,000. Same as Standard 7(a) except cannot be used to refinance loans made by or guaranteed by the Dept. of Agriculture or loans by SBA Micro-Lenders using their SBA intermediary loan. SBA portion up to $5.0 million. Micro-Loans $50,000 total to one small business borrower. NOTE 1: The guaranty fee on a $100,000 loan with an 85% guaranty would be 2% of $85,000 or $1,700, of which the lender would retain $425. NOTE 2: The guaranty fee on a $2,000,000 loan with a 75% guaranty ($1.5 million guaranteed portion) would be, 3.5% of $1,000,000 ($35,000) PLUS 3.75% of $500,000 ($18,750), for a total of $53,750. 28 — Small Business Resource OKLAHOMA For the acquisition of long-term fixed-assets, refinancing long term fixed asset debt under certain conditions, and working capital on a limited basis. Furniture, fixtures, supplies, inventory, equipment, and working capital. Same as Standard 7(a). Same as Standard 7(a) except allowable “Spread” is + 4% over the base rate. Non 7(a) Loans Either 10 or 20 year term on the SBA/ CDC portion. Shortest term possible, not to exceed 6 years. Check with local SBA District Office for current information. Check with local SBA District Office for locations of locally available intermediary lenders and then check with them. Allows missionoriented lenders focused on economic development in underserved markets to apply for 7(a) guaranty on loan they propose to make to an eligible small business. Financing from 1. The CDC Certified Development Company 2. Third Party Lenders 3. Applicant Loans through nonprofit lending organizations; technical assistance also provided. Loan eligibility requirements are same as for Standard 7(a) loans, but the business should be located in an underserved market . For profit businesses that do not exceed $15.0 million in tangible net worth and do not have an average net income over $5 million for the past 2 years. Same as 7(a) – plus loans can be made to non-profit day care businesses. Borrowers in underserved markets get more choices on the types of lenders who can provide them financing if their financing needs an SBA guaranty and the technical assistance needs of the applicant are assessed by the lender. Fees under 3 percent; long-term fixed rate; low down payment; full amortization; no balloons. Direct loans from nonprofit intermediary lenders; Fixed-rate financing; Very small loan amounts; Technical assistance available. Gross Size of Loan Fees Notes Loans of $150,000 or less (See Note 1)........................ ........2% of guaranteed portion, Lender is authorized to retain..............Maturities that exceed 12 months $150,001 to $700,000 ...................................................... ......3% of guaranteed portion .................................................................Maturities that exceed 12 months $700,001 to $5,000,000 (See Note 2) ............................ ......3.5% of guaranteed portion up to $1,000,000 PLUS 3.75% of. ....Maturities that exceed 12 months the guaranteed portion over $1,000,000 Short Term Loans – up to $5 million ......................................0.25% of the guaranteed portion .....................................................Maturities of 12 months or less Visit us online: www.sba.gov/ok
OKLAHOMA SBA LENDERS Oklahoma (As of July 21, 2011. Current list of lenders is available at www.sba.gov/ok) SBA Preferred & Express Lenders Certain lenders throughout the Nation are given authority to take on more of the responsibilities associated with loan making and administration from SBA based on their historical experience and performance with the Agency. These delegations allow the lender to streamline the SBA loan approval process and obtain much quicker guaranty decisions – generally within 48 business hours depending on the program utilized. Preferred Lenders Program (PLP) Under the SBA Preferred Lenders Program (PLP), SBA delegates loan approval, closing, and most servicing and liquidation authority and responsibility to these carefully selected lenders. SBA will continue to check loan eligibility criteria under this program. The credit criterion for PLP loans is the same as that for the regular 7(a) program. SBAExpress Lenders Program (SX) Under the SBAExpress Program, the agency relies completely on the lender’s credit analysis, forms and procedures to apply SBA guarantees to a loan without prior credit approval from SBA. In return for this flexibility, participating lenders agree to accept a maximum loan guarantee of 50%. The maximum loan amount under this program is $350,000. PatriotExpress Lenders Program (PX) Like the SBAExpress Program, the agency relies completely on the PX lender’s credit analysis, forms and procedures to apply SBA guarantees to a loan without prior credit approval from SBA; however, loan guarantees range from 75 – 85% depending on loan size. Applicant business must be 51% or more owned by a veteran, service-disabled veteran, active duty service member eligible for TAP, Reservist/ National Guard member, spouse of any of the previously mentioned, or widowed spouse of a service member or veteran who died during service or of a service-connected disability. The maximum loan amount under this program is $500,000. OKLAHOMA SBA LENDERS ADA VISION BANK, NA (SX/PX) 580-436-8369 BROKEN ARROW AVB BANK (SX/PX) 918-251-9611 THE FIRST NATIONAL BANK & TRUST CO. (SX/PX) 918-251-5371 BROKEN BOW 1ST BANK & TRUST (SX/PX) 580-584-9123 CHICKASHA CHICKASHA BANK & TRUST CO. (SX/PX) 405-222-0550 THE FIRST NATIONAL BANK & TRUST CO. (SX) 405-224-2200 CLAREMORE RCB BANK (SX/PX) 918-342-7223 DUNCAN FIRST BANK & TRUST CO. (SX) 580-255-1810 DURANT FIRST UNITED BANK & TRUST CO. (SX/PX) 580-924-2211 ext. 1198 EDMOND FIRST COMMERCIAL BANK (SX) 405-844-0110 KIRKPATRICK BANK (SX/PX) 405-341-8222 HEAVENER FIRST NATIONAL BANK (SX/PX) 918-653-3200 ELK CITY GREAT PLAINS NATIONAL BANK (SX/PX) 580-225-2265 ENID CENTRAL NATIONAL BANK & TRUST CO. (SX) 580-213-1700 HYDRO BANK OF HYDRO (SX) 405-663-2214 KREMLIN BANK OF KREMLIN (PLP/SX/PX) 580-874-2244 LAWTON THE CITY NATIONAL BANK & TRUST CO. (SX/PX) 580-355-3580 MCALESTER THE BANK, N.A. (SX/PX) 918-423-2265 MUSKOGEE ARMSTRONG BANK (SX/PX) 918-680-6911 NEWKIRK EASTMAN NATIONAL BANK (SX/PX) 580-362-2511 OKLAHOMA CITY BANCFIRST (PLP/SX/PX) 405-270-4736 BANK 2 (SX) 405-946-2265 BANK OF THE WEST (PLP/SX) 405-936-3808 BOKF, N.A. (PLP/SX/PX) 405-272-2136 COPPERMARK BANK (SX/PX) 405-951-9026 FIRST FIDELITY BANK, N.A. (SX) 405-416-2393 FIRST NATIONAL BANK OF OKLAHOMA (SX) 405-848-2001 INTERBANK (SX) 405-782-4398 INTERNATIONAL BANK OF COMMERCE (SX) 405-775-8046 INTRUST BANK, N.A. (PLP/SX/PX) 405-949-6548 JP MORGAN CHASE BANK, N.A. (PLP/SX/PX) 405-440-8535 MIDFIRST BANK (PLP/SX/PX) 405-767-7402 NBC OKLAHOMA (SX) 405-748-9100 VALLIANCE BANK (SX/PX) 405-286-5743 WEOKIE CREDIT UNION (SX/PX) 405-235-3030 OKMULGEE THE FIRST NATIONAL BANK & TRUST CO. (SX) 918-758-2402 OWASSO FIRST BANK OF OWASSO (SX/PX) 918-272-3141 PERKINS PAYNE COUNTY BANK (SX) 405-547-2436 PURCELL FIRST AMERICAN BANK (SX/PX) 405-366-3234 SALLISAW FIRSTAR BANK, N.A. (SX) 918-775-9136 STILLWATER ARVEST BANK (PLP/SX/PX) 405-385-5881 CITIZENS STATE BANK (SX/PX) 405-533-3737 EXCHANGE BANK & TRUST CO. (SX/PX) 405-742-0202 TULSA CITIZENS BANK OF OKLAHOMA (SX) 918-712-4720 CITIZENS SECURITY BANK & TRUST CO. (SX/PX) 918-293-1733 COMMERCE BANK, N.A. (PLP/SX/PX) 918-879-2234 FIRST OKLAHOMA BANK (SX/PX) 918-392-2520 OKLAHOMA CENTRAL CREDIT UNION (SX/PX) 918-664-6000 RED CROWN FEDERAL CU (SX/PX) 918-477-3206 SECURITY BANK (SX) 918-664-6100 SUMMIT BANK (SX/PX) 918-477-3607 THE F&M BANK & TRUST CO. (SX/PX) 918-748-4231 TRIAD BANK, N.A. (SX/PX) 918-254-1444 TULSA NATIONAL BANK (SX/PX) 918-494-4884 UMB BANK, N.A. (PLP/SX/PX) 918-295-2003 WEATHERFORD FIRST NATIONAL BANK & TRUST CO. (SX) 580-772-5574 WELCH WELCH STATE BANK OF WELCH (SX/PX) 918-788-3373 WYNNEWOOD THE STATE BANK OF WYNNEWOOD (SX/PX) 405-665-2001 YUKON YUKON NATIONAL BANK (SX) 405-354-5281 Visit us online: www.sba.gov/ok OKLAHOMA Small Business Resource — 29 SBA TOP LENDERS
Page 1: OKLAHOMA SMALL BUSINESS RESOURCE RE
Page 6 and 7: 2011 was a record year for the SBA.
Page 8 and 9: OKLAHOMA SBA Staff Listing www.sba.
Page 10 and 11: COUNSELING COUNSELING Getting Help
Page 12 and 13: COUNSELING Oklahoma Small Business
Page 14 and 15: COUNSELING SBA also offers a number
Page 16 and 17: COUNSELING WRITING A BUSINESS PLAN
Page 18 and 19: CAPITAL What To Take To The Lender
Page 20 and 21: CAPITAL • Reservists and National
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Page 24 and 25: CAPITAL First United Venture Capita
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Page 30 and 31: AWARD WINNERS Oklahoma Small Busine
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Oklahoma Small Business Resource Guide - SBA

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