Live Oak Bank’s $1M Grant Drives $2.3M in Zero-Interest Loans to 270 Trainees
LOB•Live Oak Bank launched a five-year, $1 million commitment to The Forward Fund in 2025, issuing $2.3 million in zero-interest loans to over 270 North Carolina adults during its first year. Early repayments of $1.4 million have generated $2.8 million in new annual earnings and partnerships with eight training programs.
1. Five-Year $1 Million Commitment
Live Oak Bank pledged $1 million over five years to The Forward Fund, North Carolina’s pay-it-forward financing initiative for career training in high-demand fields such as commercial driver’s licenses, law enforcement, nursing refresher, and electrical linework.
2. First-Year Results
Since its 2025 launch, The Forward Fund disbursed $2.3 million in zero-interest loans to more than 270 individuals. Of the $1.4 million now in repayment, borrowers have generated $2.8 million in new annual earnings, and eight community college partnerships have been established.
3. Sustainable Talent Pipeline
Participants repay loans only after securing living-wage jobs, recycling those funds to finance future trainees. The model has produced average post-program salaries over $45,000, creating a self-sustaining funding cycle.
4. Strategic Workforce Development
This grant aligns with Live Oak’s broader workforce strategy by addressing critical talent gaps and promoting economic mobility. The bank’s philanthropic focus prioritizes family-sustaining careers and long-term regional workforce growth.
