Live Oak Bank exceeds $ 1 billion in renewable energy loans to support rural communities | Your money

WILMINGTON, NC, September 23, 2021 (GLOBE NEWSWIRE) – Live Oak Bank has taken a milestone by providing more than $ 1.2 billion in renewable energy financing for solar and bioenergy projects in rural communities across Canada. country.

Live Oak is the largest U.S. Department of Agriculture (USDA) lender in the country, according to 2020 USDA data, and made its first renewable energy loan in 2016. The loan team at Live Oak Energy and Infrastructure is committed to supporting renewable energy. projects that create a cleaner environment and a more sustainable future.

“Live Oak Bank is proud to serve American business owners who create climate-smart systems that ultimately lower energy costs and provide jobs and economic opportunities in rural areas,” said Jamie Bourgeois, head of energy and infrastructure loans at Live Oak. “USDA programs are helping rural businesses grow and prosper, and we are honored to serve entrepreneurs across our country in new and innovative ways to foster economic sustainability.

The team is led by Bourgeois and supported by solar industry finance expert Jennifer Williams and bioenergy lending expert Max Vernier. The team has collectively funded more than $ 1.2 billion in loans to the solar and bioenergy industries to date, the vast majority being USDA loans to rural communities, according to internal data and USDA.

“Having the expertise, responsiveness and flexible transaction structures at the center of our model has helped us effectively serve our clients across the country so their businesses can improve the quality of life for millions of Americans. “, Added Bourgeois.

The volume of loans is a testament to Live Oak’s expertise and dedication in the renewable energy sector. Live Oak’s Renewable Energy Finance team focuses on lending for solar, solar storage and bioenergy technologies nationwide, providing project developers and their tax fairness partners with a lending experience. first class.

To learn more about Live Oak Bank and energy and infrastructure finance, visit www.liveoakbank.com/energy-infrastructure-loans.

About Live Oak Bank Live Oak Bank, a subsidiary of Live Oak Bancshares, Inc. (Nasdaq: LOB), is a digitally-focused, FDIC-insured bank serving customers across the country. Live Oak brings a revolutionary twist to service and technology to redefine banking. Our products help customers buy, grow and grow their businesses, as well as high-yield savings and CD products to grow their hard-earned money. To learn more, visit www.liveoakbank.com.

Contact: Claire Parker, Senior Vice President, Corporate Communications 910.597.1592 [email protected]

Copyright 2021 GlobeNewswire, Inc.

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