The U.S. Small Business Administration named Live Oak Bank the most active SBA 7(a) lender, in terms of dollar amount, during its 2025 fiscal year, which ended Sept. 30.

Live Oak Bank reclaimed the top spot this year, after dropping to second place during the 2024 fiscal year. The Wilmington-based bank previously held the top spot for six consecutive years, from fiscal year 2018 through 2023, according to SBA data.

A 7(a) loan is the SBA’s primary business loan program. It can be used by small businesses for refinancing, acquiring or improving real estate buildings and can be used as short- or long-term working capital.

“Entrepreneurs continue to choose Live Oak to bring their visions to life and fuel their growth,” Live Oak Bank President BJ Losch III stated in a news release issued Monday. “Our goal to be America’s go-to bank for small businesses is built on a simple principle: delivering exceptional service to every customer.”
 
During the SBA’s 2025 fiscal year, Live Oak Bank lent more than $2.8 billion, over $822 million more than the runner-up, Florida’s Newtek Bank, which lent just over $2 billion. Live Oak Bank approved 2,280 SBA 7(a) loans during the 2025 fiscal year, with an average loan size of just over $1.25 million, according to the SBA.

More than 78,000 SBA 7(a) loans were approved by lenders nationwide during the last fiscal year, totaling more than $37 billion. The average loan size was $477,571, according to the SBA.

“The SBA 7(a) program continues to be a vital resource for American small business owners seeking access to capital,” stated Chip Mahan III, Live Oak Bank’s chairman and CEO, in the release. “We’re honored to support our customers in securing this essential financing by combining our deep SBA expertise, exceptional customer service and forward-thinking technology.”