In the dynamic world of small business financing, access to flexible, affordable capital can make all the difference between stagnation and growth—especially in today's challenging economic climate. At the forefront of innovative lending solutions in Oklahoma is Ray Fitzgerald, Director of Loan Programs at TEDC Creative Capital.
Based in Tulsa, Ray specializes in the Oklahoma Business Lending Partnership (OBLP), a powerful program funded through the U.S. Treasury’s State Small Business Credit Initiative (SSBCI) and administered in partnership with the Oklahoma Center for the Advancement of Science and Technology (OCAST). This initiative helps growing and startup businesses overcome hurdles like high interest rates and insufficient equity to secure traditional loans.
Supporting Oklahoma's Innovation and Growth
The SSBCI OBLP is designed to keep Oklahoma businesses moving forward. It offers loans with attractive, fixed terms: up to $5 million (with an average around $350,000), a competitive 5.5% fixed interest rate for the life of the loan, and flexible amortization based on the useful life of the collateral. TEDC's team, including Ray, works closely with participating banks and credit unions to structure deals that benefit both borrowers and lenders—often subordinating collateral to reduce risk for private partners.
Eligible uses include startup costs, working capital, equipment and inventory purchases, franchise fees, and business real estate improvements (as long as it's not passive investment). The program requires a one-to-one match from private sources, such as bank loans or owner equity, creating a powerful leverage effect for Oklahoma companies.
Priority is given to businesses aligned with Oklahoma’s Science and Innovation Strategy, including sectors like biotech/life sciences, aerospace, autonomous systems, defense, and energy diversification. Supply chain businesses supporting these areas are especially encouraged. However, most Oklahoma-based enterprises with 500 or fewer employees remain eligible.
The program also shines a spotlight on Socially and Economically Disadvantaged Individuals (SEDI)-owned businesses and very small businesses (fewer than 10 employees), helping to broaden access to capital for underrepresented entrepreneurs.
Ray Fitzgerald: A Dedicated Advocate for Oklahoma Entrepreneurs
Ray Fitzgerald brings deep expertise and a passion for economic development to his role at TEDC. A Tulsa native with ties to the University of Tulsa, he has established himself as a go-to resource for businesses seeking smart financing strategies.
Colleagues and partners frequently highlight his hands-on approach—whether guiding borrowers through the application process, assisting banks with underwriting, or sharing insights at events like the Oklahoma Innovation Conference.
Ray and the TEDC lending team (including Director of Lending Bill Linsao and ED/CEO Rose Washington-Jones) are known for their collaborative style. They help structure SSBCI OBLP loans that complement other financing options, such as TEDC’s microloans or SBA 504 loans, creating comprehensive capital solutions tailored to each business’s needs.
Borrowers often praise TEDC’s supportive ecosystem, which goes beyond funding to include mentorship and resources that help turn visions into reality.
Who Should Consider an OBLP Loan?
- Oklahoma-based businesses (principal operations in the state) looking to expand or launch.
- Companies needing working capital, equipment, or facility improvements.
- Startups or growing firms that may not fully meet traditional bank equity or rate requirements.
- SEDI-owned or very small businesses seeking priority support.
Key requirements include a personal guarantee from owners with 20%+ stake and at least one guarantor with a 625+ credit score. The application process is straightforward: download the TEDC form and reach out to the team for guidance.
Get In Touch
If you're an Oklahoma business owner or financial partner exploring growth capital, Ray Fitzgerald and the TEDC team are ready to help. Contact Ray directly at 918-585-8332 or via email at [email protected]. For general inquiries, visit TEDC Creative Capital’s SSBCI OBLP page.
TEDC Creative Capital continues to play a vital role in fueling Oklahoma’s entrepreneurial ecosystem—one flexible, impactful loan at a time. Thanks to dedicated professionals like Ray Fitzgerald, more local businesses are turning challenges into opportunities for innovation and success.