Byline or Liveoak

by a searcher from University of Pennsylvania - The Wharton School

6 months ago

Hi Everyone! I am currently considering two financing options for a deal that I am under LOI: Byline and Live Oak. I will be funding it using the SBA 7A. 

Anyone here have experience with either?

Has anybody used either banks conventional products? Finding the long term partner that can also conventional loans for my future deals  is important to me.

Which of the two banks has a larger conventional department and has a larger risk appetite?

4 likes
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5 comments

professional from University of Toronto

I have not had experience as a borrower with either Byline or Live Oak. However, I can tell you as a former Credit Risk Management executive at a leading international bank that, if you are seeking a long-term lending relationship with a lender who can provide you with both SBA and conventional loan products, you want to deal with a bank that keeps its loans on its books and doesn't sell them to third parties. ^Searchfunder member‌'s comment in this regard (above) is important!.

6 months ago | like reply | 1 like

searcher from Pennsylvania State University

The way to really know is to ask the person you're working with personally. I would ask him how many loans they closed in the last 12 months and what percentage were approved. North of 90% should do it.

6 months ago | like reply | 0 likes

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