Lenders › Live Oak Banking Company
7(a) lenderWilmington, North CarolinaFDIC-insured bank10th of 2,184 by approvals
Live Oak Banking Company
SBA 7(a) loan approvals by fiscal year, where they went, how large they were, and how loans from earlier years turned out.
SBA approvals by fiscal year. The federal fiscal year runs 1 October to 30 September, so FY2025 is 1 October 2024 to 30 September 2025. *FY2026 is open: approvals to 30 Jun 2026 only.
Live Oak Banking Company (Wilmington, North Carolina) is an FDIC-insured bank in the SBA 7(a) program, 10th of 2,184 by approvals in FY2021 to FY2025: 7,643 loans worth $10.7bn.
In FY2025, the latest complete fiscal year, it had 2,280 approvals totalling $2.85bn, up 58% on FY2024 (1,440). FY2026 to 30 Jun 2026 adds 1,564 more.
The median approval was $850K, against $190K for the 7(a) program as a whole; 8.9% of its approvals were for $150,000 or less (program: 47.8%).
Its loans went to businesses in 52 states and territories and 1,169 counties, led by California (13.2%), Texas (10.5%) and Florida (8.0%). The largest industry group was health care and social assistance at 18.9% of approvals, and 15.5% of approvals were to franchise businesses.
Of 9,091 disbursed loans approved in FY2010 to FY2021, SBA records 200 as charged off (2.2%), 6,407 as paid in full and 2,484 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is below it.
Loan status is as recorded by SBA at the data date; charge-off rates are computed on loans approved at least five fiscal years ago. Jobs supported are self-reported estimates from the SBA loan application, which SBA does not review, audit or validate. Loans appear under the lender they are assigned to today, so a lender's figures include loans it took over. Data through 30 Jun 2026.
Approvals by fiscal year
| Fiscal year | Approvals | Dollars approved | Median approval | Average approval | Jobs supported, as reported |
|---|---|---|---|---|---|
| FY2026* | 1,564 | $1.66bn | $350K | $1.1M | 22,866 |
| FY2025 | 2,280 | $2.85bn | $500K | $1.3M | 40,152 |
| FY2024 | 1,440 | $1.98bn | $825K | $1.4M | 27,705 |
| FY2023 | 1,215 | $1.85bn | $1.0M | $1.5M | 24,740 |
| FY2022 | 1,157 | $1.70bn | $975K | $1.5M | 21,718 |
| FY2021 | 1,551 | $2.34bn | $1.0M | $1.5M | 26,987 |
| FY2020 | 1,068 | $1.49bn | $925K | $1.4M | 17,060 |
| FY2019 | 912 | $1.35bn | $975K | $1.5M | 14,441 |
| FY2018 | 857 | $1.27bn | $1.0M | $1.5M | 9,504 |
| FY2017 | 1,055 | $1.41bn | $873K | $1.3M | 8,737 |
| FY2016 | 1,075 | $1.33bn | $900K | $1.2M | 10,524 |
Approvals are counted in the year SBA approved them and include approvals later cancelled. In the five fiscal years before the current window (FY2016–FY2020) the lender had 4,967 approvals. First approval on file: FY2010.
How earlier loans turned out
Only loans approved at least five fiscal years ago (FY2010–FY2021) are counted, because newer loans have had little time to be paid in full or charged off. "Charged off" is SBA's status for a loan on which it has written off the remaining balance.
| Loans approved FY2010–FY2021 | This lender | California | 7(a) program |
|---|---|---|---|
| Approvals in these years | 10,114 | 79,249 | 639,905 |
| Cancelled or never disbursed | 1,023 | 10,102 | 79,313 |
| Disbursed loans | 9,091 | 69,147 | 560,592 |
| Paid in full | 6,407 | 52,688 | 435,813 |
| Charged off | 200 | 4,430 | 36,891 |
| Still outstanding (status exempt from disclosure) | 2,484 | 12,029 | 87,888 |
| Charged off, share of disbursed loans | 2.2% | 6.4% | 6.6% |
| Dollars charged off, share of disbursed dollars | 1.0% | 1.5% | 2.5% |
| Dollars charged off | $121M | $565M | $5.70bn |
By approval year
| Approved in | Disbursed | Paid in full | Charged off | Charged off, share | 7(a) program, same year |
|---|---|---|---|---|---|
| FY2021 | 1,445 | 569 | 11 | 0.8% | 2.8% |
| FY2020 | 990 | 535 | 13 | 1.3% | 4.0% |
| FY2019 | 846 | 513 | 32 | 3.8% | 6.7% |
| FY2018 | 787 | 567 | 11 | 1.4% | 7.9% |
| FY2017 | 1,005 | 751 | 13 | 1.3% | 7.7% |
| FY2016 | 1,012 | 838 | 19 | 1.9% | 7.2% |
| FY2015 | 892 | 764 | 27 | 3.0% | 6.9% |
| FY2014 | 624 | 558 | 15 | 2.4% | 6.4% |
| FY2013 | 521 | 454 | 16 | 3.1% | 6.0% |
| FY2012 | 392 | 337 | 14 | 3.6% | 6.3% |
| FY2011 | 356 | 323 | 16 | 4.5% | 6.9% |
| FY2010 | 221 | 198 | 13 | 5.9% | 9.2% |
A share is shown only where at least 30 loans from that year were disbursed.
Against the 7(a) program
| FY2021–FY2025 | This lender | 7(a) program |
|---|---|---|
| Median approval | $850K | $190K |
| Average approval | $1.4M | $518K |
| Approvals of $150,000 or less | 8.9% | 47.8% |
| Approvals to startups and businesses 2 years old or less | 22.6% | 34.3% |
| Approvals to franchise businesses | 15.5% | 11.5% |
| Jobs supported per approval, as reported | 18.5 | 10.5 |
| Charged off, loans approved FY2010–FY2021 | 2.2% | 6.6% |
States served
| # | State of the business (52 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | California | 1,009 | $1.42bn | 13.2% | |
| 2 | Texas | 806 | $1.22bn | 10.5% | |
| 3 | Florida | 614 | $871M | 8.0% | |
| 4 | North Carolina | 500 | $615M | 6.5% | |
| 5 | Colorado | 379 | $508M | 5.0% | |
| 6 | New York | 263 | $352M | 3.4% | |
| 7 | Georgia | 253 | $360M | 3.3% | |
| 8 | Ohio | 229 | $319M | 3.0% | |
| 9 | New Jersey | 223 | $307M | 2.9% | |
| 10 | Pennsylvania | 222 | $271M | 2.9% | |
| 11 | Arizona | 206 | $292M | 2.7% | |
| 12 | Illinois | 204 | $281M | 2.7% |
In California the lender accounts for 2.9% of all 7(a) approvals in FY2021–FY2025.
Counties served
| # | County of the business (1,169 in all) | Approvals | Dollars | Share | |
|---|---|---|---|---|---|
| 1 | Los Angeles County, CA | 202 | $252M | 2.6% | |
| 2 | Maricopa County, AZ | 151 | $203M | 2.0% | |
| 3 | San Diego County, CA | 125 | $156M | 1.6% | |
| 4 | Harris County, TX | 113 | $172M | 1.5% | |
| 5 | Orange County, CA | 96 | $153M | 1.3% | |
| 6 | Dallas County, TX | 85 | $115M | 1.1% | |
| 7 | Mecklenburg County, NC | 81 | $100M | 1.1% | |
| 8 | Tarrant County, TX | 74 | $101M | 1.0% | |
| 9 | Cook County, IL | 74 | $94.0M | 1.0% | |
| 10 | Broward County, FL | 68 | $89.0M | 0.9% | |
| 11 | Arapahoe County, CO | 67 | $84.3M | 0.9% | |
| 12 | King County, WA | 65 | $96.9M | 0.9% |
Industry mix
| # | NAICS sector | Approvals | Share | |
|---|---|---|---|---|
| 1 | Health Care and Social Assistance | 1,446 | 18.9% | |
| 2 | Professional, Scientific, and Technical Services | 1,082 | 14.2% | |
| 3 | Other Services (except Public Administration) | 915 | 12.0% | |
| 4 | Construction | 682 | 8.9% | |
| 5 | Retail Trade | 598 | 7.8% | |
| 6 | Finance and Insurance | 521 | 6.8% | |
| 7 | Accommodation and Food Services | 511 | 6.7% | |
| 8 | Real Estate and Rental and Leasing | 419 | 5.5% |
| # | Industry group | Approvals | Share | |
|---|---|---|---|---|
| 1 | Offices of DentistsNAICS 6212 | 528 | 6.9% | |
| 2 | Restaurants and Other Eating PlacesNAICS 7225 | 441 | 5.8% | |
| 3 | Automotive Repair and MaintenanceNAICS 8111 | 418 | 5.5% | |
| 4 | Other Professional, Scientific, and Technical ServicesNAICS 5419 | 415 | 5.4% | |
| 5 | Lessors of Real EstateNAICS 5311 | 359 | 4.7% | |
| 6 | Accounting, Tax Preparation, Bookkeeping, and Payroll ServicesNAICS 5412 | 339 | 4.4% | |
| 7 | Building Equipment ContractorsNAICS 2382 | 330 | 4.3% | |
| 8 | Agencies, Brokerages, and Other Insurance Related ActivitiesNAICS 5242 | 300 | 3.9% | |
| 9 | Home Health Care ServicesNAICS 6216 | 212 | 2.8% | |
| 10 | Other Financial Investment ActivitiesNAICS 5239 | 198 | 2.6% |
Approval sizes
- $50,000 or less1.2%91
- $50,001 to $150,0007.7%590
- $150,001 to $350,00016.7%1,278
- $350,001 to $1 million30.1%2,299
- $1 million to $2 million19.6%1,499
- Over $2 million24.7%1,886
Loan terms
- 5 years or less0.1%9
- Over 5 to 10 years61.6%4,711
- Over 10 to 20 years11.4%871
- Over 20 years26.8%2,052
Age of the businesses
- Existing, more than 2 years old33.7%2,574
- New business, 2 years or less6.5%500
- Startup, loan funds will open the business16.0%1,226
- Change of ownership43.7%3,340
- Not answered0.0%3
SBA processing method
| # | Method | Approvals | Share | |
|---|---|---|---|---|
| 1 | Preferred Lenders Program | 6,396 | 83.7% | |
| 2 | SBA Express Program | 1,198 | 15.7% | |
| 3 | 7a General | 30 | 0.4% | |
| 4 | International Trade Loans | 18 | 0.2% | |
| 5 | Builders CAPLine | 1 | 0.0% |
Franchise share
1,184 of 7,643 approvals in FY2021–FY2025 (15.5%) carried an SBA franchise code; across the 7(a) program the share is 11.5%.
| # | Franchise brand | Approvals | Share | |
|---|---|---|---|---|
| 1 | Ace Hardware | 56 | 0.7% | |
| 2 | Home Instead | 43 | 0.6% | |
| 3 | Units | 38 | 0.5% | |
| 4 | Servpro | 38 | 0.5% | |
| 5 | Dogtopia | 36 | 0.5% | |
| 6 | Jersey Mike’s Subs | 33 | 0.4% | |
| 7 | Primrose Schools | 31 | 0.4% | |
| 8 | Tropical Smoothie Cafe | 31 | 0.4% |
Questions and answers
How many SBA loans does Live Oak Banking Company make?
SBA approved 2,280 7(a) loans through Live Oak Banking Company in FY2025, worth $2.85bn, and 7,643 over FY2021 to FY2025. That ranks 10th of 2,184 active 7(a) lenders by number of approvals.
How large are Live Oak Banking Company's typical SBA loans?
The median 7(a) approval in FY2021 to FY2025 was $850K and the average $1.4M. The program-wide median was $190K.
What is Live Oak Banking Company's charge-off rate?
Of 9,091 disbursed loans approved in FY2010 to FY2021, SBA records 200 as charged off (2.2%), 6,407 as paid in full and 2,484 still outstanding; the 7(a) program figure for the same approval years is 6.6%, so the rate here is below it. Loans are listed under the lender that holds them today, so the figure includes loans taken over from other lenders. Status is as recorded by SBA on 30 Jun 2026.
Which industries does Live Oak Banking Company lend to most?
By number of approvals in FY2021 to FY2025: offices of dentists (528); restaurants and other eating places (441); automotive repair and maintenance (418); other professional, scientific, and technical services (415).
Where does Live Oak Banking Company make SBA loans?
In 52 states and territories. California 1,009, Texas 806, Florida 614, North Carolina 500, Colorado 379. In California it accounts for 2.9% of all 7(a) approvals.
Is Live Oak Banking Company's SBA lending rising?
Approvals in the three latest complete fiscal years total 4,935, against 3,776 in the three before: rising (+31%).
Where does this data come from?
From the Small Business Administration's 7(a) and 504 FOIA loan files, as of 30 Jun 2026. Borrower names and addresses in those files are discarded when the files are read and appear nowhere on this site.
About these figures
Figures are totals of the Small Business Administration's 7(a) and 504 FOIA loan files, data through 30 Jun 2026. SBA updates the files quarterly. Counts are loan approvals, including approvals later cancelled; the five-year window is FY2021–FY2025, the five latest complete fiscal years. Charge-off rates use only loans approved in FY2010–FY2021, at least five fiscal years ago, and count disbursed loans SBA records as charged off. Loans are listed under the lender they are assigned to today. Dollar figures behind fewer than three approvals are not shown, and no borrower is named anywhere on this site.Methodology · Report an error