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Business Model: Chip Mahan, Live Oak Bank Interview
09/15/2016
Business Model: Chip Mahan, Live Oak Bank Interview
In this episode, we interview Chip Mahan, the founder, Chairman, and CEO of Live Oak Bank who is also a board member of nCino. We delve into Chip's background and learn the history of how he has come to lead a bank that has growth that is almost 5x more than their peers and profitability that is 4x their peers. Learn why this bank's business model is so profitable and how it is set to be even more so in the future. Live Oak Bank is the second largest SBA lender in the country and is poised to be the first. We cover the Bank's thoughts on when they sell the SBA-guaranteed portion of a loan, when they keep it and what they do with the residual, non-guaranteed piece of the loan. We talk about loan performance and the performance of the SBA in honoring their guarantee. Find out the 13 industries that the Bank is focused on and why. We discuss what new industries might be ahead and some of the surprising changes the Bank is making to become more adaptable and relevant for the future. We also tackle bank technology, innovation, and look at yet another example that produces above average performance by putting their employees first. If you ever wanted to improve the performance of your bank, this is a must listen to podcast. Season 1, Episode 4
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