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Live Oak Bank offers competitive business loan options tailored to the needs of small businesses, including SBA 7(a) loans, SBA 504 loans, USDA Rural Development loans and customizable commercial loans.

Live Oak is a competitive lender that historically has charged interest rates below the national average for similar small business loans:


Live Oak only lends money into the following industries:

Live Oak Bank Industry Verticals
M&A - All industriesEntertainment CentersInvestment Advisory
Accounting & TaxFitness CentersPharmacy
AgricultureFranchise RestaurantsRestoration
Auto DealershipsFuneral Home & CemeterySelf-Storage
Automotive CareGovernment ContractingService Contractors
BroadbandHealthcareSenior Care
Educational ServicesHotelsVeterianary
Energy & InfrastructureInsuranceWine & Craft Beverage

… which allows the bank to provide a business with a banker who knows its specific industry very well and facilitates Live Oak playing a unique consultative role with the client. Since your Live Oak banker will know your industry well and has seen many transactions with similar businesses, your banker will be able to cut through the noise and let you know quickly what the borrowing capacity is for your business or acquisition target.

Recent lending activity at Live Oak Bank

RankIndustry# of Loans Avg LoanAvg Rate*
1Offices of Dentists65 $2,070,6008.63%
2Veterinary Services56 $2,481,2508.44%
3Lessors of Miniwarehouses and Self-Storage Units52 $1,988,1838.96%
4Insurance Agencies and Brokerages47 $937,84510.20%
5Plumbing, Heating, and Air-Conditioning Contractors40 $1,012,10010.46%
6Child Day Care Services32 $2,390,8759.00%
7Offices of Certified Public Accountants28 $779,02510.19%
8General Automotive Repair27 $1,244,2789.66%
9Pet Care (except Veterinary) Services26 $1,180,7699.63%
10Home Health Care Services23 $1,325,21710.14%
11Homes for the Elderly21 $1,926,6679.87%
12Funeral Homes and Funeral Services19 $1,486,6849.30%
13Fitness and Recreational Sports Centers18 $1,437,77810.22%
14Automotive Body, Paint, and Interior Repair and Maintenance18 $1,599,7839.83%
15Broilers and Other Meat Type16 $1,823,5638.59%
16New Car Dealers14 $4,132,1439.60%
17RV (Recreational Vehicle) Parks and Campgrounds10 $3,089,0009.91%
18Breweries7 $1,498,57110.11%
19Offices of Physicians (except Mental Health Specialists)7 $2,076,4298.83%
20Full-Service Restaurants6 $1,914,1679.76%

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Understanding Live Oak Bank’s Offerings

As a financial institution specializing in small business loans, Live Oak Bank caters to the diverse needs of entrepreneurs across various industries. With a range of loan options, such as SBA 7(a) loans, SBA 504 loans, USDA Rural Development loans, and customizable commercial loans, Live Oak Bank is dedicated to working with business owners to turn obstacles into opportunities.

In the following sections, we will delve into the details of each type of loan offered by Live Oak Bank.

SBA 7(a) Loans

The SBA 7(a) loan is the leading business loan option in terms of dollar volume at Live Oak Bank. These loans cater to a wide range of business purposes, from purchasing real estate to refinancing debt. With loan amounts ranging from $150,000 to $5 million, and a maximum loan term of 25 years for real estate investments, the SBA 7(a) loans offer flexibility and affordability for business owners.

Loans with terms of 15 years or less do not include prepayment penalties. There are no additional fees associated with these loans. As an SBA Preferred Lender, Live Oak Bank can make credit decisions internally, accelerating the approval process by three to four weeks.

SBA 504 Loans

SBA 504 loans are designed for the purchase of commercial real estate, large equipment, and renovations of existing facilities. These loans offer a competitive advantage for businesses looking to expand or invest in fixed assets. Typically, the down payment requirement for SBA 504 loans is 10 percent, and the financed asset serves as collateral.

As an SBA Preferred Lender, Live Oak Bank’s expertise in this loan program can help businesses secure favorable terms and interest rates.

USDA Rural Development Loans

USDA Rural Development loans are offered by the United States Department of Agriculture to facilitate rural development and enhance the economy and quality of life in rural regions. These loans can be utilized for various objectives, such as purchasing or improving land, constructing or renovating homes, and financing businesses.

Although Live Oak Bank’s website offers limited information on its commercial USDA loan offerings, their status as a leading USDA lender showcases their commitment to supporting businesses in rural areas.

Customizable Commercial Loans

Customizable commercial loans offer tailored business loans designed to meet the specific needs and goals of the borrower. Lending experts collaborate with the borrower to create a loan package that meets their financial requirements, providing flexibility in terms, rates, and repayment options.

To obtain a customizable commercial loan, inquiring with Live Oak Bank is the first step. A loan specialist will work with the borrower to create a loan package that meets their needs and then review the package before submitting it to the bank for approval.

Live Oak Bank is our #1 ranked SBA lender based on SBA loan volume from last year. The company only targets 17 industries that it knows best, which allows it to move quickly for customers in its wheelhouse. Live Oak consistently ranks in the top 3 SBA banks nationwide.

Live Oak Bank has been a leading provider of Small Business Administration (SBA) loans for more than a decade. The bank’s SBA loan program offers a range of financing options for small businesses, including 7(a) loans, which are the most commonly used type of SBA loan.

Live Oak Bank’s 7(a) loan program provides businesses with flexible financing options and competitive rates. The loans can be used for a variety of purposes, including working capital, equipment purchases, and real estate acquisitions. Live Oak Bank’s 7(a) loans are available in amounts ranging from $50,000 to $5 million, and the bank’s experienced lending team is dedicated to providing personalized service to each borrower.

One of the key advantages of Live Oak Bank’s 7(a) loan program is its focus on serving niche industries. The bank has a deep understanding of the unique financing needs of small businesses in industries such as veterinary medicine, farming, and dental care, and is able to offer specialized lending solutions to meet those needs.

Live Oak SBA loans

Want to connect with a Live Oak banker for an SBA loan or other top SBA lenders? Complete our inquiry form and we will make a connection within 8 business hours.


Live Oak Bank FAQs

Is Live Oak Bank a reputable bank?

Yes, Live Oak is a reputable FDIC-insured SBA lender. In fact, Live Oak has been the #1 SBA lender in America the last few years.

Does Live Oak Bank lend everywhere in America?


Will Live Oak lend to any small business?

No, only businesses in the industry verticals noted above.

What credit score is needed for this SBA lender?

A minimum credit score of 640 is required for Live Oak bank SBA loans. A score of 680 or better is ideal.

Any Live Oak reviews available?

Live Oak Bank’s commitment to customer success is evident in their high customer satisfaction rating, with an average rating of 4.5 stars out of 5 according to customer reviews. They provide tailored loan solutions and personalized customer service to ensure that each borrower receives the necessary support to achieve their financial goals.

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Posted in Top 20 SBA Lenders

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