First Oklahoma Bank
At a Glance
A bank whose SBA page says buy a business before anything else and names nobody to call; the use is first and the desk is a phone line.
- Pricing
- Custom Pricing, Loan products. No size, rate, fee or term of its own is published for the SBA loan; its SBA page restates the program's 7(a) ceiling in its questions. Its commercial loans page promises low down payment options, competitive rates and flexible terms, with construction terms up to five years and total financing for equipment.
- Best For
- A buyer in the Tulsa or Oklahoma City area who wants a bank whose SBA page puts buying a business first and decides in Oklahoma, and will call or visit a branch to start.
- Track Record
- A Jenks, Oklahoma bank, since 2009 by its about page, with branches in Tulsa and Glencoe and a loan production office in Oklahoma City, a long-time partner of the SBA in its own words, naming no banker with a phone.
- Type
- Bank (lends directly)
- Footprint
- Jenks, Tulsa and Glencoe branches and an Oklahoma City loan production office by its pages, from Jenks, Oklahoma. It lends beyond the states it names, so one it does not name is worth asking about rather than ruling out.
- Approval Authority
- Claims no Preferred Lender status on its own pages, so plan on the agency reading the file after the bank does.
- No page states a Preferred Lender, Express or 504 status; its SBA page calls the bank a long-time partner of the SBA and names the 7(a) as the program it most commonly uses.
- Deal Size
- $500k to $5M.
- Publishes no floor. Most of this shelf gives a ceiling that is really the agency's own cap, and no minimum at all.
- No amount at either end of its own on any page; its SBA page's questions restate the program's 7(a) ceiling and nothing else.
- Searcher Practice
- A general SBA lending desk, branch-driven.
- The bank's main number and a schedule-an-appointment form on the SBA page, or a visit to a branch; no online application for the SBA loan, and no named person with a phone.
- No page names a search fund or a searcher; its SBA page opens on starting, acquiring or expanding a small business and puts Buy A Business first of three uses.
- Published Terms
- No size, rate, fee or term of its own for the SBA loan; the program's 7(a) ceiling restated in its questions, low down payment options in its own words, and construction terms up to five years on its commercial page.
- Roadmap Stages
- 5. Diligence & Close the Deal
Pros and Cons
Pros
- Puts Buy A Business first of three uses on its SBA page, with an established brand, customer base and operations as the reason
- Says the 7(a) is the program it most commonly uses, for starting, acquiring or expanding a small business
- Says its lenders make decisions in Oklahoma, with a headquarters in Jenks and a loan production office in Oklahoma City by its pages
- A schedule-an-appointment form and the bank's main number on the SBA page
Cons
- States no program status: no page calls it a Preferred Lender or names Express, and the 504 is never mentioned
- No size, rate, fee or term of its own for the SBA loan; its commercial page gives a construction term and nothing else in figures
- No SBA banker or team is named, a commercial banker is named without a line, and no named person on its site carries a phone
- Names no search fund, searcher or acquisition entrepreneur
What Searchers Say
Read on its SBA page, its commercial loans and business banking pages, its success stories, about, news and contact pages, and two posts, on its Oklahoma City office and on its executive chairman's fifty years in banking. No searcher-forum discussion of the desk was found.
How to Approach
First Oklahoma Bank is a bank, so this is how that kind of lender comes in, what it weighs, and how to arrive ready.
The Typical Arc
- A prequalification on you and the target, often from the first email.
- A full application and the bank's own underwrite of the deal.
- A term sheet, then closing on the SBA's timeline, commonly two to four months.
What It Weighs
- Whether the business's cash flow covers the debt with room to spare.
- Your experience relative to the business you are buying.
- Your equity injection and how clean the financials are.
How to Prepare
- Model the payment and coverage before you call. SBA Acquisition Calculator
- Underwrite the specific deal end to end. Underwrite a Deal
- Show where every dollar comes from and goes. Sources & Uses Builder