Skip to content
SearchSphereSource
Sign inSign up

Huntington Bank (SBA lending) vs Live Oak Bank

Side by Side

Huntington Bank (SBA lending) and Live Oak Bank, attribute by attribute
AttributeHuntington BankLive Oak Bank
What It IsThe most prolific SBA 7(a) lender in the country by number of loans (its own October 2024 release marks a seventh straight year at #1 by count), a large regional bank whose branch-based SBA practice writes thousands of small-business loans a year, including business acquisitions.The SBA's #1 7(a) lender by dollar volume. It writes 7(a) loans up to the $5M program cap and combination 7(a) plus conventional structures that carry a purchase past it, and runs weekly office hours for buyers targeting $1M to $12M businesses, with a 60-day average funding timeline named on its acquisition page.
CategorySBA & Acquisition LendersSBA & Acquisition Lenders
Pricing ModelCustom PricingCustom Pricing
What It CostsLoan products; no fee to engage. SBA 7(a) up to the $5M program cap. The bank's own release reports 7,577 loans totaling about $1.53B in its fiscal 2024, an average near $200k, so volume skews to smaller loans than acquisition-specialist banks. Rates are quoted per deal and not published.Loan products (no fee to engage). SBA 7(a) up to $5M, with combination structures that carry a larger purchase past the cap and are sized to the deal; free weekly M&A office hours for buyers targeting $1M–$12M businesses.
Best ForBuyers in or near its branch footprint (it reports leading 7(a) counts in Colorado, Illinois, Indiana, Kentucky, Michigan, Ohio, Pennsylvania, Texas, and West Virginia) and smaller acquisitions that specialist banks may not prioritizeBuyers of $1M+ businesses who want the most experienced SBA acquisition lender in their corner from day one
Where It FitsSet Up & Fund the Search, Diligence & Close the DealSet Up & Fund the Search, Diligence & Close the Deal
Our VerdictWorth a term sheet if you're in its footprint or your deal is on the smaller side; pair it with an acquisition specialist so volume competes with pattern recognition.Start your lender conversations here, then still get a second term sheet elsewhere.
Pros
  • Highest 7(a) loan count in the country for seven consecutive years, per its own investor-relations release
  • Process honed on thousands of loans a year; SBA is a core line of business, not a side desk
  • Full commercial-bank relationship (deposits, treasury, lines) available after close
  • SBA's #1 7(a) lender FY2025: $2.8B across 2,280 approvals, including 679 acquisition loans totaling $896M, which means deep pattern recognition on deals like yours
  • Names a 60-day average funding timeline for an acquisition loan on its own page
  • Free weekly M&A office hours open to any buyer
Cons
  • Branch-driven and strongest in its home region; the process is not built as a nationwide remote experience
  • Average loan size near $200k means the machine is tuned for smaller loans; a $2M+ acquisition may get more pattern recognition at a specialist bank
  • No dedicated searcher or acquisition lending page, so expect to educate your banker on search-style structures
  • Acquisition practice skews larger (FY2025 average acquisition loan was $1.32M), so sub-$500k deals aren't the sweet spot
  • Its own marketing is inconsistent on the office-hours deal range ($1M floor on one page, $500k on the registration page)
  • The bankers who built its search-fund practice have moved on (Heather Endresen to found Viso Business Capital in 2023; Lisa Forrest and Sarah Andrews to Northwest Bank in 2026). The volume leadership is current, the team behind it is not the one its reputation was built on

Both rows were read at source: Huntington Bank ↗ and Live Oak Bank ↗.

Our take

Choose Huntington for volume at main-street size: the most change-of-ownership loans in the country in FY2025, at an average nearer $800k, and a branch-led relationship if you are in its Midwest footprint.

Choose Live Oak for the bigger deal: fewer loans but the most dollars, an average nearer $1.3M, buyer office hours for deals from $1M to $12M, and combination structures past the 7(a) ceiling.

Looking wider than these two: alternatives to Live Oak Bank, each with a line on when it is the better pick.