First Oklahoma Bank
SBA 7(a) Lending Profile · FY 2023 analysis
Industry Focus
Top industries served by First Oklahoma Bank
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 541110 | Offices of Lawyers | 40 | $20.4M | $509K | 4.7% |
| 524210 | Insurance Agencies and Brokerages | 40 | $13.0M | $326K | 4.7% |
| 238210 | Electrical Contractors | 32 | $40.4M | $1.3M | 3.7% |
| 238160 | Roofing Contractors | 32 | $10.6M | $333K | 3.7% |
| 811111 | General Automotive Repair | 32 | $22.2M | $693K | 3.7% |
| 621610 | Home Health Care Services | 24 | $9.4M | $390K | 2.8% |
| 238290 | Other Building Equipment Contractors | 24 | $14.4M | $600K | 2.8% |
| 722511 | Full-Service Restaurants | 24 | $21.3M | $886K | 2.8% |
| 541611 | Administrative Management and General Management Consulting Services | 16 | $13.1M | $821K | 1.9% |
| 335132 | Other | 16 | $2.2M | $135K | 1.9% |
Geographic Distribution
SBA lending activity for First Oklahoma Bank by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Oklahoma (OK) | 760 | $842.6M | 88.8% |
| Colorado (CO) | 24 | $41.9M | 2.8% |
| Texas (TX) | 24 | $28.0M | 2.8% |
| Kansas (KS) | 8 | $20.0M | 0.9% |
| California (CA) | 8 | $9.7M | 0.9% |
| Florida (FL) | 24 | $9.4M | 2.8% |
| Missouri (MO) | 8 | $1.6M | 0.9% |
Why Choose First Oklahoma Bank?
Based on SBA 7(a) lending track record from 2020-2025
- ✓Proven Track Record: 856 SBA loans approved, totaling $953.3M in financing
- ✓Industry Expertise: Specialized focus on Offices of Lawyers, Insurance Agencies and Brokerages, Electrical Contractors
- ✓Competitive Terms: Average interest rate of 7.29% with flexible term lengths averaging 194 months
- ✓Loan Range: Loan sizes from $25K to $5.0M, with an average of $1.1M
- ✓Nationwide Reach: Active lending in 7 states, with strong presence in OK, TX, FL
Note: Approval and terms are subject to SBA and lender requirements. This profile is based on historical data and does not guarantee future lending decisions.
Frequently Asked Questions
Common questions about First Oklahoma Bank SBA lending
What types of businesses does First Oklahoma Bank typically finance?
First Oklahoma Bank specializes in SBA 7(a) lending to specific industries including offices of lawyers, insurance agencies and brokerages, electrical contractors, roofing contractors. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are First Oklahoma Bank's typical SBA loan terms?
First Oklahoma Bank's SBA 7(a) loans typically feature an average interest rate of 7.29% and average term length of 194 months (approximately 16 years). Loan sizes range from $25K to $5.0M, with an average loan size of $1.1M.
Do I need a business valuation for a First Oklahoma Bank SBA loan?
Yes, First Oklahoma Bank typically requires a professional business valuation for SBA loans over $250,000 or for change-of-ownership transactions. A certified valuation helps establish the purchase price, loan amount, and ensures SBA compliance. The valuation typically costs $5,000-$15,000 depending on business complexity.
How does First Oklahoma Bank compare to other SBA lenders?
First Oklahoma Bank has originated 856 SBA loans totaling $953.3M since 2020. They distinguish themselves through industry specialization and expertise in their focus sectors. Compare their rates and terms with other lenders in our Commercial Lending Directory.
What states does First Oklahoma Bank lend in?
First Oklahoma Bank provides SBA 7(a) financing with particularly strong presence in OK, TX, FL, CO, MO. Based on their lending history, they have experience with diverse state-specific business regulations and licensing requirements.
Research Your Target Industry Before Applying
Before applying for SBA financing, research your industry's typical loan sizes, approval rates, and specialized lenders. Understanding industry-specific financing patterns can help you find the right lender and strengthen your application.
Our industry research reports provide comprehensive intelligence for 1,000+ industries including financial benchmarks, growth trends, financing patterns, and which lenders are most active in your sector.
Explore Industry Reports →Need a Business Valuation?
Professional valuations are often required for SBA loans over $250,000.
Get your certified valuation from Fair Market Value.