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Live Oak Small Business Loan Review

Anne Miller

Anne Miller

Senior Author

Anne Miller

Senior Author

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Live Oak Small Business Loan ReviewLive Oaks is a very specialized company that has chosen small business financing as its niche. They are very forward looking, with high tech tools on their website to facilitate the application processes as well as tracking the client’s application and online banking services. Live Oaks divides their small business loans by the type of industry of businesses they prefer to support. There are sixteen categories, but the fact that they specialize industry by industry is a heartening sign that they know something about what these businesses need.

Understanding Your Loan Options

Live Oak lends exclusively to small businesses nationwide, lending nearly two billion dollars since our inception. Their loans are custom designed to meet your business needs. They recognize that small business cannot afford loans with large upfront cash expenses. They purport to offer competitive rates and loan terms in hopes of creating a long-lasting relationship focused on helping you grow your business.

The fact that Live Oaks will be both the lender and servicer of your loan is a valuable commodity in and of itself. The complications that can form after a loan is approved and granted really calls for a consistency of care and advice across all the transactions involved. The fact that the bank specializes in small businesses means their expertise is less in loans and more in the businesses they oversee.

Speed of Implementation and Loan Duration

Their mission is to create an unprecedented banking experience for small business owners nationwide, through service and technology. Live Oak Bank is not your traditional bank. With a laser focus on innovation in finance and technology, they claim to bring efficiency and excellence to the lending process. They clearly believe deeply in personal service and focus on taking care of our customers throughout the life of the relationship.

The pace of the experience seems to be entirely up to Live Oak Banking, since they handle all of the financial processes and documentation inhouse. Such centralization usually speeds the process. The length of time to apply and get the loan is completely dependent on the amount of time it takes the borrower to get their paperwork together and into the bank.

Fine Print and Final Thoughts

Live Oak Banking Company seems like an excellent mix of traditional loan principles and current digital expediency.  The bank is pretty focused on personal service as the main conduit for their business. The person driven industry has its benefits since these counselors are more financial advisors than loan counselors.

Anne Miller

Anne is a Senior Author for SBL. She began her career as an independent consultant for local businesses after graduating with a BA in Management. Since that time, she’s expanded to writing as well as consulting to spread helpful knowledge to small business owners across the country.


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