Arvest began as a small bank more than 50 years ago and has since expanded into a group of community banks throughout Arkansas, Missouri, Oklahoma and Kansas. Arvest has more than 270 locations that are part of 16 locally managed banks in 120 communities. According to the FDIC, total assets now exceed $15 billion. Arvest is a full-service bank with both personal and business services and offers business loans up to $250,000.

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Arvest (1)


The Good

Preferred Lender
Arvest is in the “Preferred Lenders Program,” which is part of Small Business Administration’s (SBA) effort to streamline the procedures necessary to provide financial assistance to the small business community. Arvest offers a variety of business financing options, including SBA loans, commercial lines and loans, and commercial real estate.

Established Bank, Local Business
Arvest operates nearly 300 locations, giving it the reach of a regional or national bank; however, each branch is locally managed. With each Arvest bank operating under its own president and board, Arvest is able to offer the appeal of a community bank. In addition, Arvest banks are extremely active and involved in local communities.

A+ BBB Rating
Most Arvest branches have an A+ rating with the Better Business Bureau (BBB). Additionally, Arvest meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints.

The Bad

Lengthy Application Process
The initial application for a business loan with Arvest is seven pages long and requests a lot of information, including personal/business financial summary, detailed accounts of all business debt and a list of collateral. According to an Arvest representative, the time from application submission to funding can take up to one month—longer than many other lenders.

Customer Complaints about Online Banking System
While Arvest touts integrative merchant services for business owners, many online customer complaints cite a terrible online banking system. The bulk of these complaints revolves around the system’s difficulty to maneuver through the user experience.

Lack of Transparency
Arvest’s website has a page dedicated to “rates” of business loans and lines of credit, but upon landing on this page, visitors are prompted to call or visit their local branch. In addition, rates apparently differ based on geographical location and other factors.

The Bottom Line

Arvest Bank’s large reach combined with its local presence certainly makes the lender appealing; however, business owners should plan to invest a lot of time in the initial phases of acquiring a loan. From digging for exact loan terms (not available on the website) with an Arvest banker to filling out the application and waiting on funds, choosing Arvest is neither quick nor easy.

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