Live Oak Banking Company
National Rank by SBA 7(a) Loan Volume (2025)
About Live Oak Banking Company
Live Oak Banking Company, headquartered in Wilmington, North Carolina, is the #1 SBA 7(a) lender in America by loan volume. In 2025, they funded $2.68 billion across 2,148 loans, capturing 7.9% of the entire SBA 7(a) market — more than any other lender in the country. Live Oak is a national full-service bank that has built its SBA dominance through a unique vertical-focused lending strategy, assigning dedicated loan teams to specific industries rather than operating as a generalist commercial bank.
What sets Live Oak apart from other top SBA lenders is their deep specialization in targeted industry verticals. Their largest lending categories include healthcare practices (dental offices at $247.5M and veterinary clinics at $219.2M), limited-service restaurants ($131.0M), child day care centers ($115.9M), self-storage facilities ($111.7M), and agricultural operations including poultry and egg production ($176.2M combined). This vertical expertise means Live Oak loan officers understand the unit economics, seasonal cash flow patterns, and valuation methods specific to each industry they serve.
Live Oak serves borrowers across all 51 U.S. states and territories, funding loans in 1,230 unique cities and across 223 different industries in 2025. Their average loan size of $1.25 million and average term of approximately 14 years reflect a portfolio weighted toward commercial real estate purchases and business acquisitions. Nearly all of their loans (98.7%) carry variable interest rates, with an average rate of 9.20%. Notably, Live Oak reported a 0.0% chargeoff rate on 2025 approvals, underscoring their disciplined underwriting approach.
💡 Key Insight: Live Oak Banking Company controls 7.9% of the entire SBA 7(a) market — nearly 1 in every 12 SBA loans nationwide. Their average loan size is $1.25M at an average rate of 9.20%, with an average term of 165 months (~14 years). They supported 36,421 jobs through SBA lending in 2025. Working with an SBA loan broker can help you access this lender and potentially negotiate better terms.
Loan Types Funded By Live Oak Banking Company
Here’s how Live Oak Banking Company distributes their SBA loans across different business types:
Who Does Live Oak Bank Lend To?
One of the most striking features of Live Oak’s SBA lending portfolio is how evenly it is distributed across business stages. Unlike most SBA lenders that heavily favor established businesses with years of operating history, Live Oak actively funds entrepreneurs at every stage of the business lifecycle.
Acquisitions lead the way at 33% of total volume ($896.4M across 679 loans), reflecting Live Oak’s strength in financing business purchases and changes of ownership. This is a core part of their model — when someone wants to buy a business with an SBA loan, Live Oak is one of the most experienced lenders in the country for that transaction type.
Existing businesses (2+ years of operating history) represent 32% of volume ($865.4M, 839 loans), while startups account for a remarkable 30% ($794.7M, 471 loans). The startup figure is unusually high — most SBA lenders allocate less than 15% of their portfolio to startups. Live Oak’s willingness to fund startups at nearly $800M in volume speaks to their confidence in their vertical underwriting expertise.
New businesses (under 2 years old) make up the remaining 5% ($119.8M, 159 loans). In total, over 60% of Live Oak’s SBA lending goes to entrepreneurs who are either starting or buying a business, making them one of the most startup-friendly SBA lenders in the nation.
Top States For Live Oak Banking Company (2025)
Here are the states where Live Oak Banking Company has the highest SBA lending activity:
Top Industries Funded By Live Oak Banking Company
Live Oak Banking Company funds SBA loans across many industries. Here are the sectors where they’re most active:
Top Cities For Live Oak Banking Company
These are the cities where Live Oak Banking Company has the highest SBA loan volume in 2025:
San Diego, CA
Nicholls, GA
Denver, CO
Brooklyn, NY
Louisville, KY
Austin, TX
Fort Worth, TX
Orlando, FL
Wilmington, NC
Jupiter, FL
How To Get A Loan From Live Oak Banking Company
Live Oak Banking Company operates differently from most SBA lenders. Because they use a vertical-focused model, their loan officers specialize in specific industries rather than covering all deal types. This means the application process can vary depending on your industry and deal structure. Here’s what you need to know:
1. Determine if your industry fits Live Oak’s verticals. Live Oak has dedicated lending teams for healthcare (dentists, veterinarians, physicians), restaurants, child day care, self-storage, agriculture (poultry/egg production), senior care, automotive repair, home health, pet care, HVAC, funeral homes, and fitness centers. If your business falls within one of their specialty verticals, you are likely to get a faster and more favorable review.
2. Consider working through an SBA loan broker. Many top SBA lenders, including Live Oak Banking Company, work primarily through approved SBA loan brokers. This is good news for borrowers:
- Better Match: Brokers know which Live Oak vertical team handles your industry and can route your application directly
- Negotiating Power: Broker relationships with Live Oak’s underwriting team can result in better rates and terms
- Time Savings: One application goes to Live Oak and other qualified lenders simultaneously
- Expert Guidance: Brokers pre-qualify your deal before submission, maximizing your approval chances
- No Cost: SBA loan brokers are paid by the lender, not the borrower — the service is 100% free to you
3. Prepare your documentation. Live Oak will typically require 2-3 years of tax returns, a personal financial statement, a business plan (especially for startups), and details on the property or business you plan to purchase. For acquisitions, you’ll need the seller’s financial records and a letter of intent.
4. Understand the loan structure. Live Oak’s average SBA loan interest rate is 9.20%, and 98.7% of their loans are variable rate. Their average term is approximately 14 years, and you should expect a down payment of 10-20% depending on the deal type.
GoSBA Loans works directly with Live Oak Banking Company and can help you access their loan programs. If your deal fits one of Live Oak’s industry verticals, we can match you with the right lending team. Our service is completely free to borrowers.
📞 Compare Live Oak Bank With 1,305 Other SBA Lenders
Get matched with the best lender for your industry and deal size. Our team works with Live Oak and 32 other top SBA lenders to find you the best rate and terms — 100% free to borrowers.
Frequently Asked Questions About Live Oak Bank SBA Loans
Related SBA Loan Guides
Learn more about SBA loans with these in-depth guides:
Data sourced from official SBA 7(a) FOIA loan approval records for Calendar Year 2025, published by the U.S. Small Business Administration. Analysis covers 68,435 SBA 7(a) loans approved between January 1 – December 31, 2025. For official SBA program information, visit sba.gov.
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