About Live Oak Bank
Live Oak Bank was founded in 2008 and is headquartered in Wilmington, North Carolina. It offers high-yield deposit accounts and targets entrepreneurs in the market for a loan that will help them grow their small business. Though the bank originally focused on supporting professionals providing veterinary services, it now works with business owners across multiple industries, including agriculture, insurance and health care.
The bank is also known for its interest in technology and innovation. Live Oak prides itself on using technology to streamline the loan application and funding process. A subsidiary of its parent company funds companies developing solutions for the banking industry.
Forming a solid relationship with Live Oak Bank is worth considering if you’re a small-business owner looking for financing or a consumer ready to move your savings into a high-yield account. If you’re looking for a full-service online institution, however, you may be more satisfied with another bank.