Loan Options

We specialize in commercial real estate lending, and feel we do it better than most of our competitors. Whether you are considering bare land for construction or developed property, our knowledge and experience can help you reduce risk, avoid costly mistakes, and make your dreams a reality.

Our relationship with you will focus on understanding you and your business, allowing us to offer you flexible terms that meet your specific needs.

Business Operations

We offer financing for a wide variety of properties used in the operation of your business. Whether your need is for a small office building or a large manufacturing facility, we have you covered.

Income Producing

Let us help you make money by financing your revenue-generating real estate. We have extensive experience financing commercial retail centers, motels and hotels, self-storage, car washes, apartment complexes, rental homes, and many other types of property essential to your business.

First Bank of Owasso is also able to provide financing options through the U.S Small Business Administration (SBA) loan programs.

Whether you are involved in residential development, are a high volume builder, or build one or two homes a year, we can help. For residential construction and development, First Bank of Owasso is able to offer excellent service along with the experience and expertise that add value to a relationship.

Residential Construction

We offer financing for both custom and spec new construction throughout the Tulsa metro area. These loans are generally structured as twelve-month single pay notes, with the amount borrowed being paid from the sale of the home. The amount of the loan is set at a percentage of the appraisal, based off of plans and specs. Funds are advanced in draws as the construction progresses.

To provide further benefit and to assist the buyer of your homes, we offer permanent mortgage loans. This type of loan can provide you with the comfort of knowing that the buyer has been pre-approved, and is particularly helpful on a custom home.

Development

Several of our Officers and Directors have experience with residential development projects. Due to the fact that these projects are generally of significant size and complexity, this understanding is critical to your success.

Development loans are generally established based on the appraised amount of the project with draws for expenses as incurred. The payment structure is usually in the form of periodic interest payments with principal reductions coming from the sale of the lots. Specific terms are based on the particulars of the project.

To see how a relationship with us can contribute to the success of your construction or development project, please contact one of our experienced lenders today

Having the equipment you need is essential to maintaining the health of your company. It's the engine that keeps everything moving, and allows you to meet the demands of your customers, every day. Without it, everything comes to a screeching halt. We understand, and we want to help.

We are able to finance a wide variety of multi-purpose or specialty equipment for a variety of needs, such as:

By working with one of our experienced commercial lenders, you will deal directly with a decision maker who can offer financing expertise while handling your needs in a timely and confidential manner. To learn more about how we can assist you with your equipment financing needs, please contact a commercial lender.

To facilitate the day-to-day operations of your business, we offer line of credit financing or term notes to assist with the cash flow cycle. A revolving line of credit is an excellent way to have a commitment in place that allows you flexibility in advancing funds and making principal reductions. Lines of credit are often utilized by businesses to assist with inventory purchases and accounts receivables. A term note can also be established for upfront cash flow needs that you desire to payout on a pre-determined fully amortizing schedule.

Lines of credit may be financed by a fixed asset such as real estate, or by accounts receivable and inventory (asset based). Real estate secured lines of credit allow a business to have the capacity to borrow up to the amount of the line at any time.

For Asset Based lines of credit, you can simply provide us with a periodic borrowing base that summarizes the inventory and accounts receivable values. The borrowing base calculations determine the specific amount that a business has available under the line to advance and assists a business in managing cash flow as well as appropriate borrowings.

We understand that managing cash flow is vitally important to the success of any business. To learn more about how we can assist your business with credit needs, please contact a commercial lender. We would look forward to learning more about the specific needs of your business. If you prefer, please complete a confidential Business Loan Referral Information form.

First Bank of Owasso is also an approved lender through the U.S Small Business Administration (SBA) loan programs.

First Bank of Owasso is an approved lender through the U.S Small Business Administration (SBA) for both the SBA 7(a) and SBA 504 loan programs. Additionally, First Bank of Owasso participates in the U.S. Treasury’s State Small Business Initiative (SSBCI) program. 

SBA 7(a)

The 7(a) program is the most common SBA loan program with a guaranty provided by SBA to the lender for financing projects that may not quite meet typical conventional loan underwriting guidelines. This is often a good option for new businesses or for those that have limited or specialized collateral.

Loan proceeds can be used for most all business purposes, including:

• equipment
• real estate acquisition, construction, or improvement
• business acquisitions
• lines of credit
• refinance of business debts
• working capital

SBA 504

The 504 program offers borrowers lower down payment requirements along with a fixed interest rate and longer loan term on a portion of the overall financing.

The 504 program can be used for a variety of needs, including:

• real estate acquisition, construction, or improvement
• equipment purchase
• refinance of business debts

The program is designed by SBA to promote job growth through the growth of a business. The 504 program is structured to allow for up to 90% financing of the project cost. Special use properties or new businesses may involve additional equity injection. As a further benefit to the borrower, up to 40% of the project cost is set at a fixed interest rate for 10 years on equipment and either 20 or 25 years on real estate. 

SSBCI

The SSBCI program is funded through the U.S. Treasury under which SSBCI lenders, including Tribal Nations, directly lend these funds to eligible businesses. These SSBCI lenders partner with a bank for a portion of the overall financing. Typically, 50% of the total project financing comes from the bank and the other 50% from the SSBCI lender. Borrower and loan purpose eligibility are based on the U.S. Treasury requirements as well as the participating SSBCI lender’s specific eligibility requirements. Similar to the SBA 504 program, equity injection requirements are reduced and a portion of the loan receives a longer-term fixed interest rate.