Live Oak Bank named lending partner for finance auto platform Ramp

Sep. 07, 2022 11:39 AM ETLive Oak Bancshares, Inc. (LOB)By: Max Gottlich, SA News Editor

Old Fashioned Bank Sign

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  • Live Oak Bank (NASDAQ:LOB) said Wednesday that it's been named a small business lending partner for Ramp, a finance automation platform.
  • Ramp, which serves 7K business customers, helps businesses digitally manage corporate credit cards, expenses, bills, and accounting with customizable spending rules.
  • The regional bank will act as a new referral channel for Ramp customers who are seeking capital for acquiring a business or real estate purchases.
  • As a result of the partnership, Live Oak (LOB) can open its door to a broader base of customers as a small business administration lender.
  • At the beginning of September, Live Oak Bancshares declared a quarterly dividend of three cents per share.

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