Live Oak Bank Announces Lending Partnership with Ramp
WILMINGTON, NC, Sept. 07, 2022 (GLOBE NEWSWIRE) — Live Oak Bank announces that it has been named a small business lending partner for Ramp, the financial automation platform and business card designed to help businesses to spend less.
Live Oak, the nation’s leading Small Business Administration (SBA) lender, will be a new referral channel for Ramp clients seeking capital for long-term growth, such as acquiring a new business, growth of their existing business and real estate purchases.
“We are excited to partner with Ramp to bring SBA loans to a broader customer base,” said Live Oak Bank President Huntley Garriott. “Furthermore, this partnership is another step in our integrated banking journey to align ourselves with companies that share our belief that business banking services can be better and more efficiently delivered to American entrepreneurs.”
Ramp serves 7,000 business customers with next-generation financial tools that help businesses digitally manage credit cards, expenses, invoices, and business accounting with customizable expense rules tailored to their business needs.
Live Oak will complement Ramp’s payment cards and expense management solutions, providing customers with growth capital that includes great terms and a streamlined experience. Live Oak’s Preferred Lender Status (PLP) with the SBA provides an easier, faster lending process with competitive terms and rates.
“With Live Oak Bank, we are giving our clients even more flexibility and options for long-term debt. Like Ramp, Live Oak is an innovator, unafraid to challenge the status quo and tackle head-on the issues that businesses continually face,” said Ben Alderman, Head of Financial Partnerships at Ramp.
Ramp customers interested in learning more about Live Oak’s loan partnership can click here.
About Live Oak Bank
Live Oak Bank, a subsidiary of Live Oak Bancshares, Inc. (Nasdaq: LOB), is a digital-focused, FDIC-insured bank that serves customers across the country. Live Oak is taking a revolutionary spin on service and technology to redefine banking. Our products help customers buy, grow and grow their business, as well as high-yield savings and CD products to grow their hard-earned money. To learn more, visit www.liveoakbank.com.
Claire Parker, Senior Vice President of Corporate Communications