Lending

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Capital Solutions

Through our nontraditional lending programs, we creatively navigate barriers to help small business owners access loans in Tulsa and throughout Oklahoma.

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Funding for you

Creative Capital offers several loan options designed to help you start, sustain, or expand your business.

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Start today

Creative Capital lending is geared toward startups and scaling small businesses ready to borrow today. Our team will help determine the best loan solution for you.

Money on a Mission

TEDC Creative Capital is a certified Community Development Financial Institution (CDFI). We aim to level the playing field by providing equitable access to funding for most business needs. As a flexible lender, TEDC also helps create a pathway for underestimated entrepreneurs with bold ideas.

Learning

Curated content that gives entrepreneurs the tools necessary to shape their business plan.

Leading

Community-inspired office and retail space that promotes economic growth. 

Creative Capital

Small Business Loan

In partnership with the City of Tulsa through the U.S. HUD Community Development Block Grant program, the Small Business Loan Fund was created to finance start-up and growing businesses that provide jobs and boost the local economy.

TEDC makes direct loans and participates with other financial institutions on requests that fall short of conventional lending standards. 

Loan Details

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Rates are fixed but vary based on business location and economic conditions

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Maturities vary based on collateral and the use of loan funds

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Typically Ranges from $15,000 to $250,000

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Used for Most Business Expenses

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One Job Must be Created or Retained for Every $50,000 Borrowed

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Beneficial for Projects that Lack Sufficient Collateral

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Available to City of Tulsa Small Businesses

Microloan

Small loans can have a huge impact. If a loan of up to $50,000 can make a difference for your business, then a microloan from TEDC Creative Capital may be your solution. As an intermediary, we partner with the U.S. SBA to offer microloans to small companies throughout the state. Our average microloan is $12,000.

Loan Details

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Interest Rate is fixed and tied to the prime interest rate

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Maturity is limited to 6 years

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$50,000 Maximum Loan Amount

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Used for Most Business Purposes

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Available to Oklahoma Small Businesses and Startups

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Collateral is considered

SBA 504 Loans

TEDC partners with the U.S. Small Business Administration (SBA) and private sector lenders to offer the SBA 504 loan program, a fixed-rate, long-term financing tool helping businesses acquire fixed assets, such as owner-occupied commercial real estate and heavy equipment.

TEDC's share of an SBA 504 project can range from $100,000 to $5,500,000.

Loan Details

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Interest Rates are fixed and tied to the 10-year U.S. Treasury Rate

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Maturity is 10, 20, or 25-years based on the useful life of project collateral

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Provides up to 40% of eligible costs, your bank provides 50%, and you contribute the remaining 10%

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Primarily used for Real Estate and Equipment

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Eligible Companies meet the U.S. SBA's size standards

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Available to Oklahoma Small Businesses

RETAIL REVITALIZATION REVOLVING LOAN FUND

The Retail Revitalization Revolving Loan Fund (RRRLF) is a source of financing focused along and in proximity to the BRT (Bus Rapid Transit) line of Tulsa Transit and other specified areas identified by the city of Tulsa's 2018 Retail Market Study and Strategy. Existing companies and startup businesses planning to occupy, build, or purchase commercial space are eligible to apply. Loans are offered through a partnership between the City of Tulsa, PartnerTulsa, and TEDC.

Loan Details

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Maximum Loan Amount of $200,000

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Final Approval by PartnerTulsa

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0% Interest Rate

Momentum Loans

The Momentum Loan is a $2,500 working capital loan designed to help entrepreneurs build a credit relationship with TEDC. The approval process is abbreviated so you can access funds and technical assistance quickly. Participation in a TEDC EDEN program may be required.

Loan Details

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$2,500 Loan Amount

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3-year Maturity

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$80 Monthly payment

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Participation in TEDC EDEN Program may be required

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Available to Oklahoma small businesses and startups

Interest Rates and fees

Interest Rates

The interest rate on most TEDC loans is tied to the Prime Rate, which is subject to change at any time.

Wall Street Journal Prime Rate: 8.50%

Rates on SBA 504 loans are pegged to an increment above the market rate for five- and ten-year U.S. Treasury issues and are fixed.

SBA 504 Rates: Note Rate / Effective Rate

10-Year Fixed*

5.340% / 6.908%

20-Year Fixed**

5.133% / 6.445%

25-Year Fixed***

5.093% / 6.354%

Fees for loan packaging, application, consulting and other services may also apply; these vary depending on the type and term of the loan. Fee details are provided to the borrower prior to application or closing. In many cases, fees can be built into the loan request.

10 year debentures are priced every other month. Last sale date: June 2024.

*     Effective rate for 10-year refinance =  6.944%

**   Effective rate for 20-year refinance = 6.475%

*** Effective rate for 25-year refinance = 6.383%

Other Fees

Borrowers must pay an application fee of $35 per owner to initiate the loan application review process. Fees for loan packaging, loan closing, and other services may also apply. These vary based on the type of loan, source of funding, type of collateral, and the term of the loan. Fees are always disclosed in our application documents, commitment letter, loan authorization, or loan settlement sheet. In many cases, these may be financed in the loan request.

The TEDC Business Loan process

You’re a business seeking financing.

Apply for a TEDC Creative Capital loan.

Complete Documentation.

Review and Discuss Detail with the Underwriting Department.

Application is presented to the Loan Committee and Board of Directors for approval.

Documents are gathered for post-approval and pre-funding.

Receive funding for your small business.

After the loan, TEDC Creative Capital collects annual financial statements and tax returns, provides education opportunities, and is responsible for the collection of payments.