GoSBA’s Top 50 Oklahoma SBA Lenders in 2024
Introduction to Oklahoma SBA Loans
Oklahoma, with its diverse economy and a population of nearly 4 million people, is an emerging hub for small businesses. Known for its thriving industries in energy, agriculture, and aerospace, Oklahoma offers a fertile environment for both established businesses and startups. Popular industries in Oklahoma include healthcare, energy, construction, retail, and hospitality. According to recent statistics, there are over 350,000 small businesses in Oklahoma, employing nearly half of the state’s workforce.
In FY 2023, Oklahoma SBA loan providers funded 3,200 businesses, with a total loan volume of $1.7 billion. This significant level of funding highlights the role SBA loans play in boosting small business growth across Oklahoma.
Finding the Best Oklahoma SBA Loans
Finding the most affordable business loans can be challenging, but we make it easier by comparing all the top SBA lenders in Oklahoma for you. GoSBA Loans helps businesses secure the financing they need to grow—whether for purchasing equipment, refinancing high-interest loans, acquiring commercial property, or financing business improvements. After reading our analysis, click “Apply Now” to let us match you with the best SBA loan providers in Oklahoma.
Challenges in Securing SBA Loans in Oklahoma
One of the primary challenges that businesses in Oklahoma face is accessing affordable financing. While major SBA lenders such as BancFirst, Arvest Bank, and First Oklahoma Bank are prevalent in the state, selecting the right lender to meet your specific business needs can make all the difference. In FY 2023, these top lenders collectively funded more than 1,200 businesses in Oklahoma, accounting for a combined loan volume of $1.2 billion. However, there are other specialized lenders that may be more suited to your industry or business size, and understanding these options is crucial to securing a successful loan.
How GoSBA Loans Helps Oklahoma Small Businesses
At GoSBA Loans, we understand the struggle of finding the best and most affordable SBA loans for your business. Our unique approach circulates your loan application to 30 of the top 100 SBA lenders in Oklahoma, increasing your chances of approval. We make lending for small businesses easier, faster, and more affordable.
Below is our official ranking of the top 50 Oklahoma SBA lenders in 2024.
Top 50 Oklahoma SBA Lenders in 2024
| Bank Name | Sum of Term (in Months) | Amount Funded | Loans Funded | Average Interest Rate (%) |
| BancFirst | 6,524 | $21,538,200 | 51 | 9.58 |
| Live Oak Banking Company | 2,688 | $20,952,000 | 13 | 9.95 |
| First Oklahoma Bank | 2,118 | $16,092,000 | 13 | 10.15 |
| Arvest Bank | 3,066 | $14,024,700 | 25 | 9.39 |
| Celtic Bank Corporation | 958 | $8,921,700 | 5 | 11.10 |
| Regent Bank | 1,829 | $7,136,900 | 11 | 10.27 |
| Great Plains National Bank | 2,099 | $5,777,900 | 19 | 9.86 |
| Peoples Bank and Trust Company | 600 | $5,519,500 | 2 | 10.00 |
| Newtek Bank, National Association | 1,632 | $5,015,000 | 14 | 11.96 |
| Open Bank | 300 | $5,000,000 | 1 | 9.75 |
| Grow America Fund, Incorporated | 300 | $5,000,000 | 1 | 8.91 |
| Readycap Lending, LLC | 924 | $4,216,000 | 8 | 14.06 |
| First Financial Bank | 600 | $4,081,700 | 2 | 9.50 |
| Security Bank | 1,125 | $3,953,400 | 9 | 9.00 |
| Southern Bancorp Bank | 240 | $3,936,000 | 1 | 9.00 |
| First United Bank and Trust Company | 606 | $3,780,600 | 5 | 10.70 |
| The Huntington National Bank | 2,160 | $3,542,800 | 18 | 11.17 |
| PCB Bank | 600 | $3,200,000 | 2 | 9.50 |
| First Commonwealth Bank | 300 | $2,804,000 | 1 | 11.25 |
| Bank 7 | 582 | $2,768,900 | 5 | 10.00 |
| T Bank, National Association | 360 | $2,688,400 | 3 | 10.83 |
| First IC Bank | 600 | $2,532,000 | 2 | 9.63 |
| First Pryority Bank | 492 | $2,387,900 | 5 | 9.45 |
| SpiritBank | 420 | $2,283,400 | 2 | 9.00 |
| First Enterprise Bank | 324 | $2,269,100 | 3 | 10.00 |
| BOKF, National Association | 720 | $2,212,300 | 3 | 9.00 |
| Simmons Bank | 360 | $2,114,600 | 3 | 10.33 |
| BayFirst National Bank | 2,040 | $2,087,100 | 17 | 13.13 |
| First Bank and Trust Co | 240 | $1,972,400 | 1 | 9.00 |
| Sovereign Bank | 120 | $1,947,900 | 1 | 9.00 |
| Commonwealth Business Bank | 300 | $1,800,000 | 1 | 10.25 |
| Everwise Credit Union | 120 | $1,798,000 | 1 | 11.00 |
| Armstrong Bank | 240 | $1,600,000 | 2 | 10.00 |
| Falcon National Bank | 240 | $1,529,100 | 2 | 10.50 |
| Berkshire Bank | 306 | $1,528,000 | 1 | 11.00 |
| Old National Bank | 300 | $1,480,400 | 1 | 11.50 |
| Bank of America, National Association | 360 | $1,461,300 | 3 | 7.38 |
| Grasshopper Bank National Association | 300 | $1,425,000 | 1 | 10.50 |
| Northeast Bank | 1,080 | $1,424,200 | 9 | 11.25 |
| Triad Bank, National Association | 420 | $1,342,200 | 3 | 8.83 |
| Customers Bank | 312 | $1,260,000 | 2 | 10.25 |
| American Momentum Bank | 120 | $1,255,500 | 1 | 11.25 |
| First Internet Bank of Indiana | 120 | $1,237,000 | 1 | 11.25 |
| LendingClub Bank, National Association | 120 | $1,184,000 | 1 | 9.75 |
| The First National Bank and Trust Co, Chickasha, Oklahoma | 120 | $1,170,000 | 1 | 9.00 |
| Lendistry SBLC, LLC | 240 | $1,110,000 | 2 | 12.25 |
| The First Security Bank | 744 | $1,096,700 | 4 | 9.59 |
| First Savings Bank | 300 | $996,600 | 1 | 11.25 |
| United Midwest Savings Bank, National Association | 720 | $950,000 | 6 | 11.25 |
| OakStar Bank | 120 | $950,000 | 1 | 11.25 |
Leading Oklahoma SBA Lenders by Loan Volume and Loan Units Funded
Analyzing the table above, BancFirst leads the way in Oklahoma with the highest loan volume, funding over $21.5 million across 51 loans. Live Oak Banking Company follows closely, providing funding of $20.9 million across 13 loans. Arvest Bank and First Oklahoma Bank also play a significant role, with both lenders funding over $14 million.
For smaller loans, lenders like Regent Bank and Great Plains National Bank have been instrumental, providing numerous loans to support small businesses in Oklahoma. BayFirst National Bank, with 17 loans funded for a total of $2.08 million, demonstrates its commitment to supporting smaller enterprises in the state.
Why Choose GoSBA Loans for SBA Loans in Oklahoma?
Partnering with GoSBA Loans gives small business owners in Oklahoma access to a network of lenders who understand the unique needs of local businesses. We help match you with the lender that suits your business needs, considering loan amounts, approval criteria, and loan terms. By working with us, you’ll gain access to the right lenders, ultimately increasing your chances of securing the financing your business needs.
Benefits of SBA Loans for Oklahoma Small Businesses
Whether you are a new startup or an established small business, securing an SBA loan can help you expand operations, purchase equipment, or improve working capital. Oklahoma’s diverse economy and growing entrepreneurial ecosystem provide unique opportunities for small business owners to succeed, and we’re here to help you take full advantage of those opportunities.
Ready to Apply for an SBA Loan in Oklahoma?
If you’re ready to find the best SBA lenders in Oklahoma, contact us to begin your journey. Our team at GoSBA Loans is committed to helping your small business secure the financing it needs to grow and thrive in 2024 and beyond.
Apply Now to get started and secure the funding your Oklahoma business deserves.
