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Are you looking for Oklahoma’s best business loans & startup financing companies? For your small business in the Sooner State, many banks, credit unions, and unconventional lenders are offering different loan types. After all, 351k small businesses are active in Oklahoma.

Understand the unique features and benefits of different loan types to empower your business. That’s how you can choose the best lender for your business. Also, look into no-credit equipment financing options if you can’t get a business loan via traditional means.

Consider these 14 business loans & startup financing options in Oklahoma to get started:

1.  Swoop Funding

Swoop Funding is every Oklahoma-based small company’s top startup financing option. It will offer entrepreneurs a range of funding solutions to meet their needs. You can access many loan types, including traditional term loans and innovative financing options with a simplified funding process.

2.  Legacy Bank

With the interest rate being 5.44%, the average loan amount given by the Legacy Bank is $117k (depending on various factors). This lender offers you many loan options with competitive rates.

3.  Arvest

Arvest has the lowest interest rate an Oklahoman bank can offer business owners, i.e., 4.79%. The average loan amount is $288k. However, you can apply for financing options for an amount ranging from $500k to $5.5 million.

4.  SpiritBank

The average interest rate here is 5.28%. You can get more than a million dollars as a loan (the average amount). If you need money for working capital, constructing commercial real estate, or buying office equipment & corporate machinery, get in touch with this lender.

5.  First Oklahoma Bank

The average loan amount possible here is $1.478 million! Also, $5 million is the maximum amount that you can get from the First Oklahoma Bank. This bank has branches in Jenks, Oklahoma City, Tulsa, and Glencoe.

6.  BancFirst

The interest rate at BancFirst is 5% (on average). However, the normal loan amount here being $373,000 is the reason why we’ve made this lender #6 on this list. It offers you 7(a) & 504 loans, with their maximum sizes being $5 million and $12.5 million, respectively. The term for both of these options is 25 years.

7.  Valliance Bank

With the interest rate being 5.16% on average, $490k is the average loan amount possible here. Valliance offers Oklahoma-based businesses diverse loan options, ranging from SBA/USDA loans to commercial & industrial financing.

8.  Great Plains Bank

Lastly, small businesses in the Sooner State should get in touch with the Great Plains Bank as well. It offers the same services as BancFirst.

9. Citywide Banks

This one’s a division of HTLF Bank. You can get in touch with Citywide Banks to get your unique business idea funded. This lender specializes in government-funded loans and credits to help your startup in Oklahoma stay alive & thriving. So, you may apply for SBA 7(a) and 504 loans. If you need money to kickstart your business or simply pay salaries to your employees, get in touch with this lender right away.

10. Blue Sky Bank

At the Blue Sky Bank, you can get financial support for your business, especially if it exists in the Sooner State. So, this lender will give you a loan for acquiring another business, financing an office business, buying a new car for your startup, opening a new commercial line of credit in the state of Oklahoma, investing in a commercial state, or other stuff. This lender specializes in oil & gas lending and agricultural lending as well. Their website has a very simple form that you can use to apply for a business loan.

11. Red Crown Credit Union

This credit union helped many businesses located in Oklahoma City and also affected by the pandemic. Using the Oklahoma Relief Fund was established with the CARES Act, this lender provided grants to three dozen businesses, spending more than $800k in the process. Now, it specializes in providing low-interest loans to deserving businesses. You can apply for PPP loans and get funded by Red Crown Credit Union. Their loan types include:

• Owner-occupied commercial properties
• Investor real estate properties
• Equipment purchases
• Vehicle purchases
• Credit cards
• Refinances of existing loans

12. RCB Bank

RCB Bank specializes in various loan types that can help your business grow, especially if it is headquartered in Oklahoma. Whether you want to improve your cash flow, invest in real estate, expand your business, or purchase new office equipment, this lender has you covered. You’ll get a lot of options for business lending at the RCB Bank. So, get in touch with them right away!

13. First Liberty Bank

At the First Liberty Bank, you can get ample funding for your unique business idea. This lender helps businesses in Oklahoma stay afloat and meet unforeseen business expenses easily by applying quickly for a loan that comes with flexible terms and competitive rates.

You can get a loan for your healthcare practice, oil & gas business, or any other business that seeks expansion via commercial real estate investment. This community bank has branches not only in Oklahoma City but in Norman, OK, as well. So, you can easily schedule an appointment or call them to get started with your startup financing journey hassle-free.

14. F&M Bank

This bank is another Oklahoma lender that helps local businesses meet unexpected expenses and stay afloat in this dire economy. They seem to focus on commercial real estate lending and agricultural loans. However, you can also get a small business (SBA) loan from this lender. So, if you need a quick cash injection within the next few days, loans are available up to $500,000, with up to 50% backed by the SBA.

Oklahoma Government Resources

Check out these government resources about business grants/funding and startup financing options in Oklahoma:

• Oklahoma Commerce | SBA Funding
• Oklahoma Business Hub | Financing and Grants
• Rural Business Development Grants in Oklahoma
• Small Business Loans by the Eastern Shawnee Tribe of Oklahoma

Top Cities in Oklahoma for Business Loans

Curious to know which cities, towns, municipalities, or census-designated places (CDPs) in Oklahoma are the best for business loans & startup financing? If you live in any of these 30 cities, then you can easily access SBA loans or other nontraditional financing means to embark on your entrepreneurial journey:

1. Oklahoma City
2. Tulsa
3. Norman
4. Broken Arrow
5. Edmond
6. Lawton
7. Moore
8. Midwest City
9. Enid
10. Stillwater
11. Bartlesville
12. Muskogee
13. Owasso
14. Bixby
15. Shawnee
16. Altus
17. Duncan
18. Yukon
19. Claremore
20. Guthrie
21. Sand Springs
22. Ponca City
23. Weatherford
24. El Reno
25. Ada
26. Poteau
27. Coweta
28. Cushing
29. Miami
30. Chickasha

Conclusion

Whether you’re a startup owner or founded a well-established business years ago, you have to choose the right financing partner and lender. That’s how you keep your business vessel afloat and key commercial operations running in Oklahoma. Also, you should check out lenders based in Kansas as well; that’s because many Wheat County loan providers also cater to the needs of Oklahoman business owners.

Choose a reliable lender that offers you flexible loan terms and interest rates. Check their online reputation, customer service, interest rates, and other factors. If nothing makes sense, get in touch with us at Sophisticated Investor to understand how to get your entrepreneurial dreams funded quickly.