Through our nontraditional lending programs, we creatively navigate barriers to help small business owners access loans in Tulsa and throughout Oklahoma.
Funding for you
Creative Capital offers several loan options designed to help you start, sustain, or expand your business.
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.
Interest Rates and fees
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
5.390% / 7.067%
5.466% / 6.867%
5.464% / 6.812%
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: September 2023.
* Effective rate for 10-year refinance = 7.098%
** Effective rate for 20-year refinance = 6.886%
*** Effective rate for 25-year refinance = 6.830%
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.
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.