Case Studies

First National Bank of Oklahoma’s team of experts has originated USDA guaranteed loans across the United States for a variety of different use cases. See a small snapshot of our closed loans below.

Cold Storage Warehouse

First National Bank of Oklahoma recently closed the first USDA Food Supply Chain guaranteed loan in Oklahoma for a 75,000 square foot cold storage warehouse acquisition. This newly formed program helps finance food supply chain expansions in rural and urban areas, a unique feature considering the USDA’s predominantly rural orientation. The Borrower was attracted to this financing due to its long term, no-balloon loan structure and reduced cash equity requirements. This financing will reinvigorate the largest cold storage facility in northern Oklahoma, and is available to lease for qualified tenants.

Nursing Home Facility

First National Bank of Oklahoma recently financed a 5-property nursing home portfolio acquisition in rural Oklahoma utilizing the USDA Business & Industry guaranteed loan program. The Borrower, an experienced nursing home owner/operator with many existing banking relationships, was attracted to this special financing program due to its long term, no balloon loan structure and minimal down payment requirements. By utilizing this financing, the Borrower was able to close without taking on expensive 3rd party equity partners to capitalize the venture.

Biden-Harris Administration Partners with Agricultural Producers to Strengthen Markets and Create Jobs for Producers in 19 States

Investments are Part of President Biden’s Investing in America Agenda. U.S. Department of Agriculture (USDA) Secretary Tom Vilsack announced today that USDA is making investments that will create new and better markets for agricultural producers and food businesses in 19 states across rural America.
“The Biden-Harris Administration and USDA are standing up for America’s farmers and ranchers by expanding processing capacity, creating fairer markets, more revenue streams and market opportunities which help bring down food costs for families at the grocery store,” Secretary Vilsack said. “We are partnering with entrepreneurs in rural areas to build brighter futures, connect business owners to new markets and create good jobs for generations to come. These investments reflect the goals of President Biden’s Investing in America agenda to rebuild our economy from the bottom up and middle out and make our communities more resilient.”
USDA is making investments worth $320 million to strengthen food supply chains and create more opportunities for producers and entrepreneurs in 19 states: Alabama, California, Connecticut, Iowa, Idaho, Kentucky, Massachusetts, Michigan, Minnesota, Montana, North Carolina, North Dakota, New Hampshire, New York, Ohio, Oklahoma, Pennsylvania, Texas and Virginia.
To learn more, read the full news release.

Sod Farming

First National Bank of Oklahoma recently financed a USDA Business & Industry guaranteed loan for a multi-generational family owned sod farm in Oklahoma. Loan proceeds were used to refinance existing debt and to purchase a new state-of-the-art cutting machine. This Borrower was attracted to this special financing program due to its long term, no balloon loan structure and semi-annual interest payments that coincide with seasonal cash flow. By closing this financing, the Borrower was able to realize approximately $80,000 of reduced debt service payments annually.

Shopping Center

First National Bank of Oklahoma recently originated another USDA Business & Industry guaranteed loan for a real estate developer in rural Oklahoma. The Borrower, a seasoned industry veteran, was able to identify a tenant during its feasibility period, increasing the underlying value of the property relative to the contract price. First National Bank of Oklahoma won the business in a widely marketed loan placement process by proposing a creative loan structure whereby the Borrower was able to leverage the full value of its freshly signed lease, maximizing loan proceeds compared to competing lenders. The Borrower was also attracted to the construction-to-perm loan structure that will not require a second closing at construction completion.