| Loan Program Credit Standards Revisions The U.S. Small Business Administration recently announced revisions to SOP 50 10 5(F) related to credit standards for 7(a) Small Loans (loans up to and under $350,000) not including SBAExpress or ExportExpress. These revisions became effective July 1, 2014. Lenders are encouraged to review SBA Information Notice 5000-1314 to familiarize themselves with these new requirements. You may review the Notice at http://www.sba.gov/sites/default/files/lender_notices/5000-1314.pdf. Should you have questions, please do not hesitate to contact your SBA District Office lending staff. Congratulations! Congratulations to First Fidelity Bank, N.A. on their approval as the State's newest ExportExpress lender! June Top Lenders & CDCsTop Volume Lenders by number of loans - BancFirst, 91 loans, $29,628,300
- Arvest Bank, 30 loans, $9,358,900
- JPMorgan Chase Bank, N.A., 17 loans, $2,323,600
- First United Bank & Trust Co., 16 loans, $14,181,200
- First Oklahoma Bank, 9 loans, $11,543,300
- Wells Fargo Bank, N.A., 7 loans, $2,564,600
- First Financial Bank, 7 loans, $1,317,100
- MidFirst Bank, 7 loans, $888,800
- The First State Bank, OKC, 6 loans, $6,236,300
- BOKF, N.A., 6 loans, $1,792,500
Top Volume CDCs by number of loans - Rural Enterprises of Oklahoma, Inc., 12 loans, $10,379,000
- Small Business Capital Corp., 7 loans, $1,916,000
- Metro Area Development Corp., 5 loans, $2,148,000
- Tulsa Economic Development Corp., 2 loans, $1,397,000
Top Volume Lenders by dollar value of loans - BancFirst, 91 loans, $29,628,300
- First United Bank & Trust Co., 16 loans, $14,181,200
- First Oklahoma Bank, 9 loans, $11,543,300
- Arvest Bank, 30 loans, $9,358,900
- The First State Bank, OKC, 6 loans, $6,236,300
- Ameristate Bank, 3 loans, $5,130,000
- Live Oak Banking Company, 4 loans, $4,000,000
- Commonwealth Business Bank, Los Angeles, CA, 1 loan, $3,906,000
- Grand Bank, 3 loans, $3,621,000
- Wells Fargo Bank, N.A., 7 loans, $2,564,600
Top Volume CDCs by dollar value of loans - Rural Enterprises of Oklahoma, Inc., 12 loans, $10,379,000
- Metro Area Development Corp., 5 loans, $2,148,000
- Small Business Capital Corp., 7 loans, $1,916,000
- Tulsa Economic Development Corp., 2 loans, $1,397,000
504 Participating Lenders - American Bank & Trust Co., 1 loan, $573,155
- BancCentral, N.A., 1 loan, $2,240,000
- BancFirst, 2 loans, $604,750
- BOKF, N.A., 1 loan, $1,255,291
- Commerce Bank, 1 loan, $400,000
- Community National Bank & Trust, 1 loan, $2,122,500
- Farmers State Bank, Allen, 1 loan, $821,781
- First Bank of Owasso, 1 loan, $175,000
- FNB Community Bank, 1 loan, $900,000
- Heritage Bank, 1 loan, $1,093,000
- Idabel National Bank, 1 loan, $910,000
- JPMorgan Chase Bank, N.A., 1 loan, $395,713
- Legacy Bank, 1 loan, $294,217
- Oklahoma Central Credit Union, 1 loan, $433,364
- Oklahoma State Bank, 1 loan, $2,890,510
- Prime Bank, 1 loan, $457,853
- Quail Creek Bank, N.A., 2 loans, $3,664,000
- RCB Bank, 1 loan, $210,000
- Regent Bank, 1 loan, $457,500
- Republic Bank & Trust, 1 loan, $950,000
- Security Bank, 2 loans, $450,950
- UNKNOWN, 1 loan, $163,500
- Valliance Bank, 1 loan, $329,615
June FY2014 Lending - 41 Loans Approvals by lending program - SBAExpress, 13
- 7(a) Small Loans, 9
- PLP, 5
- 7(a), 11
- 504, 3
Approvals of Start Ups vs. Existing Borrowers Approvals by County - Bryan, 1
- Canadian, 3
- Carter, 2
- Cleveland, 1
- Comanche, 1
- Delaware, 1
- Grady, 1
- Latimer, 1
- McIntosh, 1
- Oklahoma, 11
- Payne, 2
- Pittsburg, 2
- Pottawatomie, 1
- Rogers, 1
- Tulsa, 12
Loan Approvals by Industry - TBD, 7
- Commercial and Institutional Building Construction , 2
- Hotels (except Casino Hotels) and Motels , 2
- Offices of Dentists , 2
- Offices of Physicians (except Mental Health Specialists) , 2
- Other Computer Related Services , 2
- All Other Personal Services , 1
- All Other Plastics Product Manufacturing , 1
- All Other Specialty Trade Contractors , 1
- Broilers and Other Meat Type , 1
- Car Washes , 1
- Commercial and Industrial Machinery and Equipment (except Automotive and El , 1
- Commercial Gravure Printing , 1
- Document Preparation Services , 1
- Drycleaning and Laundry Services (except Coin-Operated) , 1
- Engineering Services , 1
- Floriculture Production , 1
- General Automotive Repair , 1
- Ice Manufacturing , 1
- Insurance Agencies and Brokerages , 1
- Landscaping Services , 1
- Mayonnaise, Dressing, and Other Prepared Sauce Manufacturing , 1
- Offices of Lawyers , 1
- Offices of Real Estate Agents and Brokers , 1
- Oil and Gas Field Machinery and Equipment Manufacturing , 1
- Painting and Wall Covering Contractors , 1
- Plumbing, Heating, and Air-Conditioning Contractors , 1
- Support Activities for Forestry , 1
- Used Merchandise Stores , 1
- Vending Machine Operators , 1
Top Ten Loan Approvals - Bluestem Integrated LLC, Tulsa, $4,253,000, FIRST OKLAHOMA BANK
- Southeastern Ice, Inc., Wilburton, $3,600,000, AMERISTATE BANK
- Shine Car Wash, Inc., Lawton, $1,791,000, FIRST CHATHAM BANK, SAVANNAH, GA
- Rustic Elegant Events, Limited, Sperry, $1,700,000, GREEN BANK NATL ASSOC, HOUSTON, TX
- Brownco, Inc., Tulsa, $1,580,000, GRAND BANK
- NDA, Inc, Edmond, $1,275,000, OKLAHOMA STATE BANK
- Oklahoma Digital Abstract, LLC, Broken Arrow, $900,000, OKLAHOMA STATE BANK
- Chinowth & Cohen, LLC, Bixby, $800,000, FIRST OKLAHOMA BANK
- Dairy Queen Grill & Chill, Del City, $742,000, METRO AREA DEVEL CORP
- Doua C Lor and Douachy K Lor, Colcord, $715,600, ARVEST BANK
Oklahoma District ContactsDistrict Director Dorothy "Dottie" Overal 405-609-8011 dorothy.overal@sba.gov Deputy District Director Tim Jeffcoat 405-609-8020 timothy.jeffcoat@sba.gov Lead Lender Relations Specialist Sandra Ransome 405-609-8019 sandra.ransome@sba.gov Lender Relations Specialist Cindi Carter 405-609-8018 cindi.carter@sba.gov Program Support Assistant Tara Pennington 405-609-8023 tara.pennington@sba.gov
The Lender's Advantage is published by the U.S. Small Business Administration's Oklahoma District Office, located at 301 N.W. 6th St. Suite 116, Oklahoma City, OK 73102, to provide relevant and timely information to Oklahoma lenders. For questions or more information, call Larry Weatherford, 405-609-8012 or email Larry.Weatherford@sba.gov. | |
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