Live Oak Bank builds dedicated teams that specialize only in property management financing, while most local banks offer generic products to everyone. Their loan officers, underwriters, and analysts know the industry inside out, so borrowers work with the same people by name instead of navigating a generic bank.
When you think about a typical local bank, they're gonna kind of serve your area, they're gonna serve your market. They're also gonna give you a HELOC, a personal loan, a car loan, potentially a business loan. But the question is, do they really understand what you're looking for? Can they tailor financing options for what you're doing? And we've kind of changed the model here at Live Oak to where we're not geographically located. We are industry focused. So we build out true teams, and that goes from your loan officer to your underwriter, to your loan closing specialist, even to our credit team that specializes in specific industries and property. That is so smart.
Yeah, I love that because the industry can then get to know those folks. And we have other banks that operate in the property management world where people really do get to know those people personally and they know their name. And I think that's a, a great model.
