Live Oak Bank is a digital bank headquartered in Wilmington, North Carolina, specializing in lending to small businesses across the U.S. It offers SBA and USDA loans, along with business and personal deposit products. The bank targets small business owners in niche industries like veterinary and dental practices. Its unique selling proposition is its expertise in specialized lending and a branchless, digital platform that provides efficient services without minimum balance requirements or monthly fees[1][3]. Live Oak is known for being a leading SBA lender, offering competitive APYs and no maintenance fees[3].