Live Oak Bank

Live Oak Bank is a branchless, FDIC-insured bank that lends to small businesses across more than 30 industries, and it runs a dedicated lending team for investment advisory firms. Its loan officers work with RIAs, broker-dealers, registered representatives and other wealth management businesses on financing for growth and ownership changes.

For advisory firms, the bank finances the purchase of another advisor's book of business, internal succession and partner buyouts, moves by advisors who leave a larger firm to become independent, refinancing of existing business debt, and the purchase of office buildings. It offers both SBA-guaranteed loans and conventional financing, plus a faster Live Oak Express program for smaller loan amounts. Advisors can seek pre-approval before bidding on a practice. The bank also offers business checking, savings and CD accounts, and insured cash sweep coverage on business deposits.

Live Oak Bank is a subsidiary of Live Oak Bancshares, Inc., which trades on the New York Stock Exchange under the symbol LOB. The bank was founded in 2008 and has its headquarters in Wilmington, North Carolina. Loan pricing is not published and depends on each deal.