What Live Oak Banking Company does

Live Oak Banking Company is a wholly-owned bank subsidiary of Live Oak Bancshares, Inc. (NYSE: LOB), headquartered at 1757 Tiburon Drive in Wilmington, North Carolina. Founded in 2008, the company operates as a fully digital, FDIC-insured commercial bank without physical branches, positioning itself as America's small business bank and self-described America's Premier SBA Lender. It serves small businesses nationwide through SBA 7(a), SBA Express (Live Oak Express up to $350,000), USDA, conventional, and construction loans across more than 30 specialized industries including healthcare, funeral services, childcare, fitness, and aerospace, alongside middle-market specialty finance and project finance (real estate, energy, infrastructure) with over $8.1 billion funded nationally through April 2026.

The product platform is delivered through dedicated mobile apps for Personal & Business Banking and Commercial Banking, direct online account opening, and phone-based Customer Success Managers available Monday–Friday 8 a.m.–11 p.m. EST. Core deposit products include Business Essential, Business Plus, Business Plus Analysis, and the legacy Tidal Business Checking accounts, plus high-yield business savings (2.75% APY), personal savings (3.90% APY), and CDs (3-month to 5-year terms, up to $250,000 per account). Merchant Services, an Insured Cash Sweep offering up to $10 million in FDIC coverage, and a quarterly BusinessPulse market-intelligence report round out the ecosystem. Live Oak Ventures, the bank's wholly-owned investment arm, operates a fintech venture portfolio and co-founded infrastructure plays including Apiture (with Fiserv, exited via CSI in 2025), Finxact, Payrailz, and nCino, delivering 9x+ returns and over $1 billion in combined exits from Finxact and Payrailz. The company holds SBA Preferred Lender status, FDIC insurance, and U.S. Government Equal Opportunity Employer certification, and is led by Chairman/CEO James S. (Chip) Mahan III, President BJ Losch, CFO Walt Phifer, Chief Credit Officer Michael Cairns, Chief Risk Officer Ewa Stasiowska (since December 2025), Chief Banking Officer Mark Moroz, and Chief Information and Digital Officer Renato Derraik.

Name

Live Oak Banking Company

Legal name

Live Oak Banking Company

Website

https://liveoak.bank

Company type

Public

Founded year

2008

Operating status

Operating

Headcount range

1–10 employees

Short description

Live Oak Banking Company is the wholly-owned bank subsidiary of Live Oak Bancshares (NYSE: LOB), a digital, branchless FDIC-insured commercial bank headquartered in Wilmington, NC that originates SBA, USDA, conventional, specialty, and project-finance loans for small and middle-market businesses across 30+ industries nationwide.

Ownership category

akta.pro rank

Product category

Commercial Banking / SBA Lending

NAICS

Savings Institutions and Other Depository Credit Intermediation (52218), Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

SBA/Government-Backed & Development Finance Loans (FSAKAGAI)

akta.pro secondary industries

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), Balance-Sheet / Portfolio CRE Lending (FSALADAG)

Keywords

• SBA 7(a) lending
• Small business banking
• High-yield savings accounts
• Specialty finance lending
• Commercial project finance

Headquarters

HQ city

Wilmington, North Carolina

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Interest Income - SBA Loans: Primary revenue from SBA 7(a) loans and SBA Express loans for small businesses, with options extending up to $5 million and beyond.
2. Interest Income - Commercial Loans: USDA loans, conventional business loans, specialty finance (venture banking, asset-based lending, sponsor finance, government contracting), and project finance for real estate and energy.
3. Business Checking: Business Essential, Business Plus, and Business Plus Analysis checking accounts with treasury services including ACH and wire capabilities.
4. Business & Personal Savings: High-yield savings accounts and Certificates of Deposit (CDs) for business and personal use, generating interest expense costs offset by lending income.
5. Merchant Services: Payment processing services with transparent pricing for businesses.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels8 records

Core offering

Live Oak Banking Company is a fully digital, FDIC-insured bank operating without physical branches that provides government-backed SBA 7(a) loans up to $5 million and beyond (including Live Oak Express up to $350,000), USDA loans, conventional and construction business loans, specialty finance (venture banking, asset-based lending, sponsor finance, government contracting), and project finance for real estate, energy, and infrastructure. It pairs this lending franchise with business and personal deposit products including Business Essential/Plus/Plus Analysis Checking, high-yield business and personal savings (2.75%/3.90% APY), and Certificates of Deposit across 3-month to 5-year terms.

Product overview

Live Oak Bank is a fully digital, FDIC-insured bank offering a unified platform of banking and lending products. The core offering centers on business and personal deposit accounts (checking, savings, CDs) paired with comprehensive lending solutions (SBA, USDA, conventional loans, construction loans, specialty finance, and project finance). The bank positions itself as America's Small Business Bank and America's Premier SBA Lender. The product ecosystem includes digital banking platforms via mobile apps and online banking, merchant services for payment acceptance, and BusinessPulse for market intelligence. The portfolio spans 30+ industries served through specialized lending, with no branches and a commission-free model focused entirely on customer service.

Differentiator

Problem solved

Functional benefit

Brands

• Live Oak Ventures: Investment arm of Live Oak Bank that invests in fintech companies focused on bank infrastructure, partnerships, and incubation opportunities.
• BusinessPulse
• Live Oak Express

Products and services

• Business Essential Checking
• Business Plus Checking Business checking account with ACH capabilities, online wire services, and more robust features for businesses with advanced banking requirements.
• Business Plus Analysis Checking Business checking account for high daily balance businesses with statement aggregation and broader analysis capabilities.
• Tidal Business Checking Business checking account for managing Business Savings and CDs opened before July 21, 2025, that do not have a Business Essential or Plus Checking account.
• High-Yield Business Savings High-yield business savings account offering 2.75% APY with no minimum required to open and no monthly maintenance fees.
• Business CDs Certificates of Deposit with terms from 3 months to 5 years offering fixed rates of return, with $2,500 minimum deposit and $250,000 maximum per account.
• High-Yield Personal Savings Personal savings account offering 3.90% APY, no minimum balance to open, no monthly maintenance fees, and FDIC insurance.
• Personal CDs Personal Certificates of Deposit with terms from 3 months to 5 years, with $2,500 minimum deposit and $250,000 maximum per account, and FDIC insurance.
• SBA 7(a) Loans Small Business Administration government-backed loans with options extending up to $5 million and beyond for small businesses across more than 30 industries.
• Live Oak Express SBA loan product up to $350,000 with affordable monthly payments and quick access to capital for small business needs.
• USDA Loans Government-backed financing through the USDA Rural Development program for eligible rural businesses.
• Conventional Business Loans Custom business loans tailored to specific business needs beyond government-backed programs.
• Construction Loans Specialized construction financing for ground-up builds, major renovations, or business expansions with dedicated construction loan team support.
• Merchant Services Payment acceptance services with transparent pricing to lower costs and provide faster access to funds for business owners.
• Specialty Finance Strategic financing solutions including venture banking, asset-based lending, lender finance, sponsor finance, and government contracting finance for lower-middle market and middle market businesses.
• Project Finance Capital and expertise for real estate, energy, and infrastructure development projects, with over $8.1 billion in project financings funded nationally.
• Wilmington Business Banking Localized banking services for the Wilmington, NC market combining local expertise with personalized service and a full range of banking solutions.
• Insured Cash Sweep Service providing up to $10 million in FDIC insurance coverage on business deposits through an insured cash sweep mechanism.
• Mobile Banking App (Personal & Business) Mobile application for managing Personal Savings, personal CDs, Business Savings, Business CDs opened before July 21, 2025, and Tidal Business Checking.
• Commercial Banking App Mobile application for managing Business Savings and CDs opened on or after July 21, 2025, and all Business Checking accounts (Essential, Plus, and Plus Analysis).

Quantifiable outcome

• 81% of small businesses and 96% of middle market companies received full or partial credit approval
• +1 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• ApiturecoreStrategic or Co-development Partner · 1 January 2017Joint venture between Live Oak and First Data (now Fiserv) founded in 2017. Cloud-native omni-channel onboarding and servicing platform for digital banking.
• FiservcoreTechnology or IntegrationJoint venture partner with Live Oak for Apiture digital banking platform. Also acquired Finxact in 2022.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Bluevine: Digital-first SMB banking and lending platform offering SBA loans, lines of credit, and business checking — an emerging fintech competitor encroaching on Live Oak's SBA and SMB deposit niches.
• Mercury: Digital business banking platform focused on startups and SMBs with deposit accounts and integrated banking services — emerging competitor in the digital-first SMB banking space.
• Brex: Digital corporate card and business banking platform for SMBs and startups — adjacent fintech competitor targeting the same digitally-native SMB deposit and credit relationship.

Others

• Funding Circle: Online SMB lending platform offering term loans and SBA loans — overlapping SMB credit product but operating as a non-bank fintech rather than a chartered bank.
• nCino: Cloud-based banking software built on Salesforce, co-founded by Live Oak leadership and serving 1,000+ financial institutions — strategic technology partner and ecosystem peer rather than a direct competitor.

Direct peers

• Customers Bank: Digital-focused commercial bank with a strong small business and SBA lending franchise, branch-light model, and national deposit gathering via high-yield products — closely mirrors Live Oak's operating model and target customer base.
• Celtic Bank: One of the largest SBA 7(a) lenders in the U.S., specializing in government-backed small business lending — competes head-to-head with Live Oak for SBA volume and Preferred Lender status.
• Piermont Bank: Commercial-focused digital bank serving small and middle market businesses with specialty lending and treasury services — comparable target market and product mix to Live Oak's commercial banking line.

Broad incumbents

• Axos Financial: Public digital bank (NYSE: AX) offering consumer and business banking, lending, and mortgage products nationwide — broader portfolio but overlapping digital-first, branchless deposit-gathering model.
• First Internet Bank: Established branchless bank offering consumer and commercial deposit products, SBA lending, and specialty finance — comparable digital-first DNA with overlapping SMB focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/liveoakbank
• YouTubeyoutube.com/user/LiveOakBank
• Facebookfacebook.com/liveoakbank
• LinkedInlinkedin.com/company/live-oak-banking-company

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Live Oak Banking Company