SBA Lenders: Live Oak vs. Huntington

by a searcher from Baker College of Muskegon

2 years ago

We are closing in on our LOI to acquire a company. We planned to do it via SBA funding. 

Live Oak is #1 for SBA by dollar.
Huntington is #1 for SBA by loan approvals.

Have you used either of these to acquire a company? What was your experience?

5 likes
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12 comments

searcher from Harvard University - Harvard Business School

Strongly recommend you talk to those two along with 2-3 regional players (not tiny, one town banks but also not the nationals). Huntington has better rates than Live Oak, but Live Oak handholds searchers better. That said, I found significantly better rates with the regional banks (and be sure you work them down against each other, including LO and Huntington). Just make sure the local bank you pick has experience with SBA acquisition loans and you have a banker who can take the time to walk you thru things.

2 years ago | like reply | 2 likes

investor from The University of Michigan - Stephen M. Ross School of Business

I closed a loan with LOB about 2 years ago and had a very good experience. They've been a good partner since then as well

2 years ago | like reply | 0 likes

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