Oct. 29 Wilmington-based Live Oak Bank is the most active SBA 7(a) lender in the US by dollar amount according to new data from the U.S. Small Business Administration. Live Oak approved 1,068 7(a) loans valued at $1.49 billion during the year ended Sept. 30.

The 7(a) loan program is the SBA’s flagship program; lenders made approximately 42,000 7(a) loans totaling $22.55 billion for the fiscal year. No. 3 ranked Wells Fargo made 1, 872 loans, valued at $547 million.

The results are posted on the SBA website and display the country’s top 100 SBA 7(a) lenders by loan volume for the SBA 2020 fiscal year, which ended Sept. 30. To view the Top 100 SBA list, click here.