Live Oak Bank’s agriculture lending team is thrilled to announce it has reached a new milestone: we have lent $1 billion in poultry farm loans. Since 2014, poultry growers across the nation have been able to start their own small businesses with Live Oak’s cash flow lending model. We are pioneers in identifying the need for a lending solution for growers.
Reaching the $1 billion closed loan milestone is very special and Live Oak is proud of what the agriculture lending team has done to help great rural families positively impact great rural communities. We love this industry and hope to lend another billion in the next four years.
The bank has made significant investments in educating poultry growers on how to best use financing to support their businesses. Our team is composed of people who are laser-focused on the industry all day, every day.
Armed with a full understanding of the challenges and nuances of loan deals, our agriculture loan team is empowered to guide customers not only through the loan process, but also through the entire life of the loan.
Our agriculture lending team includes construction loan specialists who work with the borrower, the contractor and the engineer throughout the life of the loan and answer all construction questions. The construction loan specialists collect and monitor the following construction-specific documentation: contracts, completed construction plans and specifications, insurance, and cost breakdowns of the overall project.
In addition to construction loan specialists, Live Oak’s Business Advisory Group works with borrowers once the loan closes to answer any business-related questions and ensure success; adding value to customer businesses is our goal.
Daily, our loan officers travel throughout the country to meet with our borrowers. We believe in developing strong relationships with our customers and are often more comfortable working out of our trucks than in our offices, anyways. Learn more about poultry farm loans here.