Commercial lending in Oklahoma works with many Oklahoma businesses. When you start a business in Oklahoma, you can rent, buy or build a place to do business. If you decide to buy or build, you’re going to need to visit a commercial mortgage lender and apply for a loan. Luckily, you have plenty of choices of commercial mortgage providers in Oklahoma who want your business.

The process is the same whether you’re looking at an office, store building or warehouse for your business—you start with an application. However, there are things you can do before the application to increase your chances for getting the best loan at the best rates and terms.

When applying for a commercial loan in Oklahoma, you need to know how to:

1. Identify mortgage loan differences among commercial mortgage brokers in Oklahoma

2. Find Oklahoma commercial mortgage lenders with the best reputation

3. Present your financial affairs in the best light to an Oklahoma commercial mortgage lender

Action Steps
The best contacts and resources to help you get it done

Compare Oklahoma commercial mortgage lenders

You'll find that most lenders provide comprehensive websites about the services they provide. Log on to lender websites to find out information about commercial loans. Term and interest information may be listed on the website.

I recommend: If you do a computer search on Oklahoma banks, chances are you’ll get a list that includes online commercial mortgage lenders and lendars from other states. Instead, check with the Oklahoma Association of Mortgage Professionals or Oklahoma Bankers Association for commercial mortgage brokers in Oklahoma.

Contact the bank where you currently do your business about a commercial loan in Oklahoma

Banks like to keep customers happy. Find out if the bank you use for business also makes commercial mortgage loans. Perhaps your bank can offer better rates and terms than the other lenders that you've already researched.

I recommend: Both the Bank of Oklahoma and Republic Bank & Trust are Oklahoma banks that pride themselves on customer service and long term clients. Find out if commercial loans are fixed-rate or adjustable and what collateral or down payment your bank requires from you. Don’t be afraid of asking for lower rates.

Choose the top two or three commercial mortgage lenders in Oklahoma

With a clear idea of what you're looking for in a commercial mortgage, approach each Oklahoma commercial lender at the top of your list. Be sure the lenders know that you're talking to other lenders as well. A little competition is good and should help you get better offers.

I recommend: Be familiar with typical mortgage loan documents by taking a look at sample mortgage loan documents, such as those at Capital Consortium. Before you close the deal, have your business attorney or a real estate attorney review any documents before you sign. Make sure you understand the laws specific to Oklahoma.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Consider regional and national lenders in addition to commercial mortgage lenders in Oklahoma.
• •  Be aware of hidden costs like extra loan fees. These hidden fees can make your low interest loan not such a great idea.