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Live Oak BusinessPulse Offers Economic Insights and Impacts to Small Business in the Midst of the Coronavirus Pandemic

05/13/20

WILMINGTON, N.C., May 13, 2020 (GLOBE NEWSWIRE) -- Live Oak Bank announced today the release of the Q2 Live Oak BusinessPulse, a quarterly report covering analysis of business sentiment and economic insight, with special coverage on the COVID-19 pandemic’s impact to small business.

The BusinessPulse, powered by Barlow Research Associates, Inc., provides detailed analysis and reporting on economic position, economic confidence, and credit outlook for small and middle market companies. Barlow Research surveys more than 2,800 companies across the U.S. to gather current viewpoints and draws on 10 years of data to provide in-depth research on trends to the commercial banking sector.

The key takeaways of this quarter’s report include:

  • COVID-19 has negatively impacted the majority of businesses, with more than 70% reporting negative sales impact.
  • The need for capital is increasing as the demand for credit hits its highest point since 2010. 
  • However, long-term expectations are somewhat optimistic.

“We know that the world has drastically changed in the last 90 days, and the banking industry has a really important role to play in providing capital to small businesses to help them make it through this,” said Live Oak Bank President Huntley Garriott.

The BusinessPulse will be published by Live Oak each quarter along with a video by Live Oak leadership covering the report’s highlights and key takeaways American business owners need to make informed decisions.

To read the latest report and see the video with Live Oak President Huntley Garriott and Chief Credit Officer Steve Smits discussing the 2020 Q2 highlights, visit www.liveoakbank.com/businesspulse.

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 efficiency and excellence to the banking process, without branches, by using a focused approach to technology and innovation. To learn more, visit www.liveoakbank.com.

About Barlow Research Associates, Inc. (BRAI):
Since 1980, Barlow Research Associates, Inc. (BRAI) has been dedicated to providing market research services and strategic insight to business banks and leading-edge financial solution providers. Focused solely on the voice of the business banking customer, BRAI specializes in primary research in small business, middle market and digital business banking. As a full-service market research firm, BRAI offers both custom and syndicated research and unique expertise in competitive intelligence CX studies. BRAI is the sponsor of the Monarch Innovation Award and the annual Barlow Research Business Banking Conference. www.BarlowResearch.com

Contact:
Claire Parker, SVP of Corporate Communications
910.597.1592
claire.parker@liveoak.bank

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Source: Live Oak Bancshares, Inc.