Steve Smits

Chief Credit Officer @ Live Oak Bank arrow icon

Known information

  • Former associate administrator for the Office of Capital Access at the U.S. Small Business Administration.
  • Was responsible for managing and overseeing the SBA’s programs and operations designed to expand access to capital for America’s small businesses.
  • Managed the SBA’s $100 billion small business loan portfolio.
  • Played a critical role in implementing many of the provisions in the Small Business Jobs Act signed into law in September 2010.

About Live Oak Bank

Live Oak Bank is a fully digital bank offering a range of business and personal banking services, including high-yield savings accounts, CDs, and various loan options. It is the #1 SBA 7(a) lender by dollar amount for FY 2023 and provides FDIC insurance up to $250,000 per depositor.

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