# Live Oak Bank

> Live Oak Bank is a Wilmington-based, nationally operating digital bank that combines industry-specialist business lending with deposit accounts. It offers SBA, USDA and conventional financing, business checking, savings and CDs, serving owners who want to buy, build or expand businesses. Its parent is publicly traded Live Oak Bancshares, Inc. (NYSE: LOB).

- **Founded:** 2008
- **Headquarters:** Wilmington, United States
- **Founders:** James S. (Chip) Mahan III (Co-founder; Chairman and CEO), Lee Williams III (Co-founder; Vice Chairman), David G. Lucht (Founding team member; former credit executive)
- **Products:** SBA 7(a) loans, SBA 504 financing, Live Oak Express, USDA financing, Conventional commercial loans
- **Notable:** Ranked first by SBA 7(a) approved dollar amount in fiscal 2025: 2,280 approvals totaling more than $2.8 billion., Received the 2018 BAI Global Innovation Award for internal process innovation following its cloud transition., Parent completed its IPO in July 2015; now trades as NYSE: LOB.

## Products & services

- **SBA 7(a) loans** — Government-guaranteed business financing up to $5 million for eligible acquisitions, refinancing, real estate and other business purposes.
- **SBA 504 financing** — Financing for eligible commercial property and large equipment; bank advertises combined financing up to $15 million, subject to structure and qualifications.
- **Live Oak Express** — SBA 7(a) small term loans of $10,000-$350,000, with terms up to 10 years; advertised average APR 9.50%-10.50% as reviewed October 22, 2026. Qualifications and restrictions apply.
- **USDA financing** — Financing through USDA programs including REAP, Business & Industry, Water and Environmental, and Community Facilities.
- **Conventional commercial loans** — Non-SBA commercial financing tailored to borrower needs and qualifications.
- **Business checking and treasury services** — Essential, Plus and Plus Analysis checking accounts and related cash-management services.
- **Savings and certificates of deposit** — Online personal and business deposit accounts; rates and terms vary.

## Achievements

- Ranked first by SBA 7(a) approved dollar amount in fiscal 2025: 2,280 approvals totaling more than $2.8 billion.
- Received the 2018 BAI Global Innovation Award for internal process innovation following its cloud transition.
- Parent completed its IPO in July 2015; now trades as NYSE: LOB.
- Converted more than 60,000 deposit accounts to Finxact in 2021.

## Latest updates

- **2026-10** — October 21: parent reported Q3 2026 common-shareholder net income of $24.3 million, $2.1 billion in loan production and approximately $17.0 billion in assets. Credit-loss provision was $54.7 million, including $17.0 million of action related to its stressed distillery portfolio.
- **2026-07** — Parent reported Q2 2026 common-shareholder net income of $34.7 million and total assets of $16.04 billion.
- **2026-02** — 2025 annual report described Express loan production rising 94%, from $109 million in 2024 to $212 million in 2025.
- **2025-10** — Announced the fiscal 2025 SBA 7(a) dollar-volume lending lead.

## Links

- Website: https://www.liveoak.bank/
- LinkedIn: https://www.linkedin.com/company/live-oak-bank/
- Twitter/X: https://x.com/liveoakbank
- YouTube: https://www.youtube.com/user/LiveOakBank
- Instagram: https://www.instagram.com/liveoakbank/
- Facebook: https://www.facebook.com/liveoakbank

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Profile page: https://yespress.io/live-oak-bank
Published by YesPress — https://yespress.io
Last updated: 2026-10-22