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As an approved lender for the SBA, we’ve helped finance millions of dollars in SBA loans. Partner with us to grow your small business.

Key Features

  • Government-Backed Financing
  • Lower Down Payments
  • Fast Processing
  • Local Partnership
  • Available for start-up businesses, as well as purchasing and refinancing existing businesses
  • Government-assisted help for businesses that might otherwise have difficulty getting approved
  • Special financing for qualifying businesses
  • Competitive rates for a wide range of business needs:
    • Commercial real estate purchase
    • Construction
    • Business acquisition or expansion
    • Equipment/inventory purchase
    • Working capital
    • And more
  • A wide range of lending options available
  • Generally lower down payments and extended terms
  • Additional considerations taken when deciding maturity
  • Local decision-making and processing here in Tahlequah
  • Attentive, friendly service from start to finish

First State Bank’s Lending Area for its SBA products includes Cherokee County, the Tulsa Metro area, and most of Northeast Oklahoma.

The 7(a) SBA loan is the flagship loan program of the SBA and offers the following features:

Who Qualifies

For profit business that meets SBA eligibility standards.

Maximum Loan Amount

$5 million 

Benefit to Borrowers

Long-term financing, improved cash flow, fixed maturity, and no balloons. In many cases, the SBA does not require the loan to be fully collateralized.

Use of Proceeds

Working capital, term loan, debt refinance, expansion, renovation, new construction, purchase land or buildings, purchase equipment, fixtures, leasehold improvements, inventory, and others. 

Maximum Interest Rates

Rates vary by loan amount, nature of the loan, and the circumstances of the borrower. Rates are tied to Wall Street Journal Prime Rate. Typically rates range between Prime +1% and Prime + 2.75% and are usually adjusted quarterly or annually, but longer adjustment periods are available depending on the situation. 


It depends on the ability to repay. Generally, working capital and machinery & equipment (not to exceed life of equipment) is up to 10 years. Real estate is up to 25 years.

Eligible Businesses

Some examples include: owner-occupied commercial real estate, hotels, self-storage facilities, medical and dental office and equipment, franchises, urgent cares, funeral homes, pharmacies, assisted living facilities, veterinary practices, landscaping companies, attorneys, transportation, manufacturing, and others.

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