SBA Lenders: Live Oak vs. Huntington

searcher profile

October 28, 2021

by a searcher from Baker College of Muskegon in Kalamazoo, MI, USA

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
12
351
Replies
12
commentor profile
Reply by a searcher
from Harvard University in Fort Wayne, IN, USA
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.
commentor profile
Reply by an investor
from University of Nebraska in Austin, TX, USA
You will need to reach out to more than just those two most likely, but they’re a good start. The SBA lenders all have different deal preferences, note pricing, preferred deal sizes, perceptions of covid impact to every business, etc so find the one that works for you and your deal.
commentor profile
+10 more replies.
Join the discussion