Live Oak Bank

Live Oak Bank

1741 Tiburon Drive
Wilmington, NC 28409

W http://www.liveoakbank.com/insuranceagents

Contact: Leah DeMasters

E leah.demasters@liveoakbank.com

P (910) 796-1646

Company Description

Live Oak Bank is a leading small business lender offering financing solutions to select industries nationwide. Our Insurance industry division focuses on agents, MGAs, wholesalers and program administrators. We offer 10 year loans from $75,000 up to $10,000,000 at attractive rates.

Description of Product or Services you would like to promote in the Association:

Live Oak Bank provides customized financing for the Insurance industry for a broad range of purposes including acquisition, succession, refinance and working capital.

How does your product or service specifically target/benefit Program Administrators:

About Live Oak Bank

  • Insurance Expertise:  Our lending team has extensive experience working in the insurance industry. We understand your business.
  • Cash Flow Lenders: The asset of an insurance agency is the book of business.
  • Use of Loan Proceeds: Acquisition, Refinance, Working Capital, Real Estate.
  • Competitive Rates and Terms: Typical agency acquisition without real estate would have a 10 year term, rates around Prime + 2.5%, and no prepayment penalty. Longer terms are available for real estate loans.
  • Preferred Lender with the SBA: Experience an efficient process that provides fast closings and funding. Most loans close within 60 days. We "have the pen" for the SBA and make credit decisions in house.  

What differentiates your product from others in the marketplace?

With over 40 years of experience in insurance agency operations, financing and M&A, we are well positioned to assist you with capital needs.

We have relationships with many program administrators and understand the market.