Wilmington-based Live Oak Bank is again expanding its lending market. The bank, which makes small business loans to practitioners in selected professions, announced Tuesday that it will provide such loans to medical professionals nationwide who seek real estate-related financing.

The bank’s announcement stated that medical professionals who need financing for commercial real estate, ground-up construction or major renovations, or who want to leave their leased space to purchase a freestanding practice, often have a difficult time securing a loan. Live Oak Bank will target that market.

“In my years of lending to the healthcare industry, I have seen a void in financing for medical professionals, especially those who need funding for construction projects,” said Keith Merklin, the bank’s general manager, in a release. “Live Oak is here to fill that void. We recognize that this is an underserved group, and we want to help them achieve their career goals of practice ownership.”

“Since our inception, Live Oak Bank has strived to provide financing to industries that lack an existing, desirable alternative,” said Chip Mahan, chief executive officer of Live Oak Bank, in the release. “When we enter the industry, we fully immerse ourselves in order to understand the challenges our borrowers face regarding their business. Our knowledge, paired with our unsurpassed customer service and customized financing options, allows us to distinguish ourselves from the other banks that serve each industry. We look forward to this new endeavor.”

Founded in 2007, Live Oak began by lending to veterinarians who wanted to start or expand their practices. It has since extended its lending to dentists, independent pharmacists, funeral home owners and investment advisors nationwide. It also offers deposit and investment services to individuals.

For additional information, visit www.liveoakbank.com.