AVSB Receives Rising Star Award

Arkansas Valley State Bank is honored for helping small businesses.

By: Sarah Mitschke | Category: Financial Services | Issue: October 2007

Pictured are David Buse, Trevor Montgomery, Marlee Jacobs, Danny Williams and SBA Oklahoma District Director Dottie Overal.

Arkansas Valley State Bank, a fourth-generation, family-owned community bank with four locations in Tulsa and Broken Arrow, has been helping our community grow and prosper for over a century. The institution offers uncomplicated products and services to provide solutions to customers’ daily living. AVSB was one of two lenders in Oklahoma to be honored recently with the Rising Star Award by the Small Business Administration.

The Rising Star Award was given at the Small Business Administration’s 13th Annual Mid-America Conference, which covers 10 district offices in Oklahoma, Louisiana, Texas and New Mexico. AVSB was named a Rising Star as a result of its increasing SBA lending over the last year. Chief Credit Officer and Executive Vice President Danny Williams says, “We are very proud to receive this recognition. It represents the efforts of our lending staff to provide superior support to our small business customers. Many of these borrowers would not have access to financing if not for the SBA enhancements that we use”.

As small business specialists, AVSB is one of very few lenders in the Tulsa area that has access to the Express, Community Express and the new Patriot Express SBA lending programs. These programs allow the bank to make loans under $500,000 with expedited approvals and streamlined documentation. “We expect to expand our use of these invaluable programs offered by the Small Business Administration,” Williams continues. “SBA lending is much more of a mainstream product than in the past when it was considered a last resort. The Small Business Administration is in the process of a modernization effort that will have an enormous positive impact on lenders and borrowers. AVSB is positioned to take full advantage of these improvements when they become available.”

The vast majority of job growth comes from small businesses. As a result, AVSB offers its three Express loans to stimulate the economy. The Express loan, the oldest of the three, gives borrowers up to $350,000 and provides 50 percent guaranty. With its expedited approval process, small business owners no longer have to wait long periods of time for approval from banks. The Community Express loan gives borrowers up to $250,000 and provides 85 percent guarantee.

The Patriot Express loan, the third and newest of the Express trio, is a work in progress. Available to those currently in the military, military veterans, as well as their spouses and children, this loan gives borrowers up to $500,000. “We’ve made loans to veterans before, but they were made through other lending programs,” Williams mentions. “This Patriot Express loan is specifically for those involved in the military.”

Although the majority of the SBA loans are suited for start-up companies and companies wanting to expand, many small business owners can apply. To qualify for the loans, borrowers must be of good character and must demonstrate good prior credit. They must have an entrepreneurial spirit and the desire to improve and develop the community through their businesses.

For more information about AVSB or its SBA lending programs, please contact the bank at (918) 251-9611 or visit www.avsb.com. Four locations are available throughout Tulsa and Broken Arrow for customer convenience. Stop by the newest branch at Stone Wood Hills, located at 2201 N. Elm Place in Broken Arrow, and experience the special treatment AVSB gives its customers.

For more information, contact

Arkansas Valley State Bank

(918) 251-9611

www.avsb.com


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AVB

For more information, contact:

AVB Broken Arrow

(918) 251-9611
302 S. Main Street, 6401 S. Elm Place
Broken Arrow, OK 74012

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