Lending data
Who actually lends to mining and extraction businesses in Oklahoma?
23 SBA 7(a) loans went to mining and extraction businesses in Oklahoma recently, at a median of $402,600. Here are the lenders that made them, ranked.
23 SBA 7(a) loans went to mining and extraction businesses in Oklahoma in the most recent fiscal years. The median was $402,600 over 6 years. The most active lender was Great Plains National Bank, with 4 loans.
What lending to mining and extraction businesses in Oklahoma actually looks like
Every figure on this page is computed from SBA 7(a) loan-level FOIA data released 2026-06-30. It reflects loans that were actually approved, not rate cards or advertised ranges.
| Measure | Mining and extraction, Oklahoma | All 7(a) borrowers |
|---|---|---|
| Loans approved | 23 | 214,102 |
| Median loan | $402,600 | $150,000 |
| 25th - 75th percentile | $160,000 - $650,000 | $50,000 - $500,000 |
| Median term | 6 years | 10 years |
| Median initial rate | 9.50% | 10.25% |
| Share to startups | 30.4% | 33.6% |
| Charge-off rate, FY2010-19 cohort | 2.6% | 7.1% |
Which lenders actually funded them
Ranked by loans approved to mining and extraction businesses in Oklahoma. This is the list worth working from, because a lender that has funded dozens of businesses like yours in your state has seen your file before.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| Great Plains National Bank | 4 | $376,300 | 25% | 10.38% |
| FandM Bank | 4 | $437,500 | 25% | 7.75% |
| BancFirst | 2 | $875,000 | 50% | 8.25% |
| Readycap Lending, LLC | 2 | $262,000 | 0% | 12.38% |
| AmeriState Bank | 2 | $1,750,000 | 0% | 7.50% |
What stands out in this market
Reading the figures above against the national picture:
- Loans here run larger than average. The median of $402,600 is 168% above the $150,000 national median. Expect lenders in this market to be geared toward bigger deals, and expect a small request to get less attention.
- Startup share is about average, at 30% against 34% nationally.
- No single lender dominates, but the top three made 43% of these loans, so the shortlist below covers most of the active market.
- Rates run lower here. The median initial rate of 9.50% is 0.75 points below the 10.25% national median, which usually tracks loan size and perceived sector risk rather than geography.
- This market has performed well. Its FY2010-2019 charge-off rate of 2.6% is below the 7.1% overall figure, which is part of why lenders compete for it.
- Terms are short, at a median of 6 years — shorter than the ten years typical of 7(a) lending, which points to equipment and working capital rather than property.
How to use this
- Shortlist three lenders from the table whose median loan is close to what you need.
- Ask each whether they are a Preferred Lender and how many 7(a) loans they closed last year. See choosing an SBA lender.
- Check your coverage first with the affordability calculator so you ask for a number the cash flow supports.
- Assemble the package before you call. The document checklist is the single biggest thing you control.
Compare other markets
- Other sectors in Oklahoma: construction, retail, restaurants and hotels, healthcare, personal services, professional services
- Mining in comparable states: New Mexico, Texas