Live Oak Bank Crosses Investment Advisory Lending Milestone

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$100 million in loans have been made to Investment Advisors nationwide.

Live Oak Bank, the nation’s only bank whose sole mission is to lend to independent business owners, announced today that it has extended a total of $100 million dollars in loans to Investment Advisors, reaching this milestone after only sixteen months of lending activity.

Advisors have taken advantage of the Bank’s lending programs to acquire other firms, purchase books of business, finance succession plans, tuck-in advisors to their platforms, gain access to working capital and buy their corporate real estate.

“When we launched this specialty, there was a real lack of capital available to financial advisors who wanted to grow their business. By reaching this milestone we have proven our theory that advisors are eager to leverage financing to achieve their objectives,” said Steve Smits, General Manager of Investment Advisory Lending.

Live Oak Bank’s Investment Advisory vertical debuted in late 2012. With financing in great demand in the industry, the bank is making significant investments in educating both advisors and home-office executives as to how best to use financing to support transactions. Owing to an aging advisor population, the industry is starting to see significant asset movement. Live Oak can help advisors support logical business steps (transition to independence, working capital, expansion & acquisition, succession), and, in many cases, help advisory-firm principals realize the liquidity event that will finance their retirement.

“We have taken a strategic route to achieve this $100 million milestone, which we see as a mark of our healthy beginnings,” said Jason Carroll, Managing Director of Advisory Lending. “Partnering with key industry leaders has allowed us to build out our capabilities to meet the wide spectrum of financing needs within the industry, and to refine our processes so we can scale our programs to help even more advisors achieve their goals.”

About Live Oak Bank:
Live Oak Bank was founded in 2008 with one goal: to provide business loans to independent businesspeople in niche industries. Today, Live Oak is one of the largest originators of small business loans, with one of the strongest loan portfolios in the country. We have extensive experience lending to small business in niche industries.

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Micah Davis
Live Oak Bank
+1 (910) 550-2255
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