Chartered in 2008 in Wilmington, North Carolina, Live Oak runs without a branch network and has spent years at or near the top of the SBA 7(a) league table by dollar volume. Lending is organized around industry verticals: veterinary and dental practices, self storage, funeral homes, craft beverage, agriculture, franchise deals. Loan officers know the sector economics, which shortens the questions an owner has to answer twice. Deposits are national, with high yield business savings and CDs funding the loan book.
Suits established operators buying a practice, a building or a competitor, typically with two or more years of trading history and clean tax returns. Poor fit for a cash business: there is no counter to deposit takings at, and no branch to walk into when a wire goes sideways. Everything runs through the app, the portal and the phone.
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