Print
Banking & Finance

Live Oak Expands Into Commercial Real Estate Lending

By Cece Nunn, posted Nov 28, 2018
Live Oak Bank announced Wednesday that the Live Oak Bancshares Inc. (Nasdaq: LOB) subsidiary is expanding its lending services by offering products for commercial real estate and asset-based financing, as well as increasing its small business financing team.

The Wilmington-based bank is providing conventional loans for commercial real estate projects including office and industrial buildings, retail centers, medical buildings, apartments and student housing, according to a news release.

The release stated that Angus McDonald leads the division as general manager and has almost 20 years of real estate financing experience working with developers and owners "to leverage the capital they need to build commercial space from beginning to completion."

Live Oak is also providing conventional asset-based lending (ABL) products to small- and medium-sized companies across the country, according to the release.

"The team is dedicated to lending money to companies with high-quality receivables that may need capital over their business operating cycle," the release stated. "Chris Lehnes is leading the team as a senior loan officer and has more than 25 years of ABL and small business lending experience."

In addition to the new products, Live Oak has expanded its General Small Business Administration (SBA) Lending Team with the addition of Mike Shepston, according to the release.

"The team has extensive SBA expertise to help brokers, intermediaries, search funds and individuals navigate SBA loan products to grow their business," the release stated. "Shepston joins as a senior loan officer and his primary focus includes owner-occupied commercial real estate, ground-up construction and business acquisitions. Shepston is one of seven specialists on the General SBA Lending team based across the country, and he will serve business owners in the Phoenix area."
Ico insights

INSIGHTS

SPONSORS' CONTENT
Webilm julieformal kellystarbuckcom mg 5471

Business is Growing at the ILM Business Park

Julie Wilsey - Wilmington International Airport
20180514 104209 51418120638

'I Hate...'

Steve Adams - School of Learning Arts
Jeff metrocopy

Public Adjusters are Your Advocates After the Storm

Jeffrey Feldstein - Metro Public Adjustment

Trending News

Mixed-use Project On Oleander Drive Moves Forward

Johanna Cano - Mar 21, 2019

Proposal Revamps Wrightsville Ave. Shopping Center, Adds Apartment Amenities

Cece Nunn - Mar 22, 2019

Friends School Of Wilmington To Break Ground On Building Project

Cece Nunn - Mar 22, 2019

Economic Development Event Aims To Help Local Businesses Go Global

Jenny Callison - Mar 22, 2019

Report Shows Mixed Results For Area Counties In Improving Health

Jenny Callison - Mar 22, 2019

In The Current Issue

Demand For Apartments Spreads

Leland is growing so fast, it needs more housing ASAP. In fact, some incentives were granted recently to a developer planning to build more...


6 Months After Florence

It’s been six months since Hurricane Florence made landfall in the Wilmington area, and John Pike and his family are still not living in the...


Info Junkie: Julie-Ann Scott-Pollock

Info Junkie Julie-Ann Scott-Pollock, Communication and Performance Studies professor at UNCW, on her tech and app recommendations....

Book On Business

The 2019 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

Transporting the Future - Power Breakfast 3.12.2019
Health Care Heroes 2018
2018 WilmingtonBiz Expo - Keynote Lunch with Eric Dinenberg, Rouse Properties