Others might not see it, but we know all about the hard work you put in – the late nights and the early mornings. You deserve extraordinary service and expert advice. Our loans start at $150,000 and are tailored to meet your business’s unique needs.
Buy
Buying an existing business or franchise? We’ll streamline the loan process to help you secure the capital you need.
Build
Building your business from the ground-up? We’ll act as your construction representative, so you can focus on what really matters: devoting time to your business and your customers.
Expand
Ready to take your small business to the next level? Scale your operation with financial solutions to expand your business empire.
Our team is experienced and can confidently guide you through the lending process. Together, we’ll create a unique financing plan to help you and your business thrive.
Small Business Administration
Backed by the Small Business Administration, SBA loans typically offer lower down payments and competitive terms. Our Preferred Lender Status gives us the ability to get capital in your hands faster.
#1 SBA 7(A) Lender by dollar amount for FY 20221
US Department of Agriculture
Our lending team is comprised of USDA experts who are passionate about helping rural America thrive. Let’s work to enhance economic opportunity in your community.
Commercial Loans
We are well-known for our expertise in government-backed loans, but we also have the ability to fund larger opportunities with customized credit facilities to meet your needs.
Connect
We connect with you to discuss long-term business goals and current challenges in order to create a tailored loan package.
Underwriting
We review your documents to validate that we have the necessary information to get an approval decision.
Credit Review
We review your loan package to ensure that it aligns with our credit philosophy.
Closing
We review a final checklist and work with you to reach a closing date.
Servicing
Once your loan closes you are assigned a Business Analyst who checks in each quarter to provide insight and business guidance. Manage your loan details with online access.
Business owners across the nation have chosen Live Oak to fund their dreams and drive their success. Discover the ways we’ve helped our customers achieve more.
SBA loan interest rates vary based on the specific product. In general, SBA rates are some of the most competitive on the market. However, loan rates fluctuate so it’s best to speak with one of Live Oak’s lenders to determine what your interest rate will be. For an SBA 7(a) loan, interest rates are the daily prime rate, which is determined by the Federal Reserve, plus a lender spread which is calculated depending on the loan amount and the loan term. Our lending team will gladly walk you through any questions you may have about specific interest rates, depending on the unique needs of your business.
There is no simple answer to this question – talk through it with someone from our lending team. This amount depends on your business type and use of funds. Live Oak can guide you after we learn a bit more about you and your business.
Whether you’re looking to buy, build or expand, you can expedite the financing process by taking these simple steps now.
Additional necessary application documents may include (but are not limited to):
We are cash flow lenders and view collateral as a last resort means of repaying a loan. So, we are first ensuring that cash flow is sufficient to repay the proposed debt, and we are looking at collateral second. That being said, there are certain collateral requirements that need to be met depending on the loan product, size of the loan and the use of proceeds. Some common examples of collateral that might be required are: home equity, retirement accounts, commercial real estate, equipment and automobiles. Be sure to speak with your lender about potential collateral requirements.
We can help you navigate the many financing options and make sure it’s a good match for you. One of the resources that we often utilize is the Small Business Administration, which is a government agency. A portion of SBA loans is guaranteed by the government and as mentioned above, the most common SBA loan programs include 7(a) and 504 loans. We can also combine those SBA loans with conventional loans, lines of credit and more. Let’s talk through your goals and we’ll craft a personalized loan package, together.
1. The data supplied by the SBA reflects 7(a) highest dollar volume during FY 2022.
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