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As a top small business lender in Oklahoma, we’ll help you secure financing to grow your business.

Key Features

Competitive Rates

Government-Backed

Local Decision-Making and Processing

Helping Small Businesses Grow

Small business is the lifeblood of our community. That is why First Pryority Bank is committed to the growth and prosperity of small businesses and is determined to help our clients achieve and build on their success. Your SBA loan application is decided and processed in NE Oklahoma by your neighbors, instead of a large, out-of-state institution. That is the First Pryority Bank difference.

SBA loans are government-assisted help for businesses that might otherwise have difficulty getting approved.

SBA loans can be used to: 

  • Purchase machinery and equipment

  • Purchase, construct, expand or improve a building

  • Acquire inventory

  • Provide working capital

  • Purchase an existing business or open a new business

  • Refinance existing business debt on more favorable terms

Key benefits of an SBA loan: 

  • Personalized service throughout the process

  • Generally lower down payments and extended terms

  • Improved cash flow through a lower monthly payment. 

  • Additional considerations are taken when deciding maturity*

  • Larger loan amount than may otherwise be available

  • Lower down payment may be possible

  • No balloon payments

  *Loan maturities are based on the ability to repay, the purpose of the loan proceeds, and the useful life of the assets financed.

 

There are certain criteria that must be met in order to qualify for an SBA loan. The business must:

  • Be a start-up business, or for the purchasing and refinancing of existing businesses

  • Operate for profit

  • Be located in the United States

  • Meet credit qualifications

  • 51% owned by a citizen or legal permanent resident (LPR)

 

Once you've decided to apply for an SBA loan, you will need certain information to apply. A First Pryority Bank SBA specialist will reach out and help you through this process. Prior to meeting with us, use this checklist to gather the necessary information:

  • Personal financial statements

  • Resumes of owners and key leadership

  • Business plan

  • Income tax returns (personal and business)

  • Business financial statements (less than 60 days old)

  • Bank statements

  • Collateral 

    • Real estate

    • Equipment

    • Vehicles

    • Accounts Receivables

    • Inventory

  • Legal documents 

    • State Certification form

    • EIN verification

    • Operating agreement

 

The following information is what you need to know before coming in to see a First Pryority Bank lender.

  • Why are you applying for this loan?

  • How will the loan proceeds be used?

  • What assets need to be purchased, and who are your suppliers?

  • What other business debt do you have, and who are your creditors?

  • Who are the members of your management team?

 

  • Available for start-up businesses, as well as purchasing and refinancing existing businesses
  • Government-assisted help for businesses that might otherwise have difficulty getting approved
  • Special SBA programs available for qualifying businesses:
    • SBA Express
    • SBA 7(a)
    • SBA 504
  • Competitive rates for a wide range of business needs:
    • Commercial real estate purchase
    • Construction
    • Business acquisition or expansion
    • Equipment/inventory purchase
    • Working capital
    • And more
  • A wide range of lending options available
  • Generally lower down payments and extended terms
  • Additional considerations taken when deciding maturity*
  • Local decision-making and processing in Northeast Oklahoma
  • Personalized service throughout the process
*Loan maturities are based on the ability to repay, the purpose of the loan proceeds, and the useful life of the assets financed.

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