Live Oak Bank will now provide conventional asset-based lending products to small- and medium-sized companies across the country.

Chris Lehnes, a 25-year veteran of the ABL and small business lending industry, will lead the team as a senior loan officer.

The team will lend money to companies with high-quality receivables that may need capital over their business operating cycle.

Live Oak Bank is a digitally focused, branchless, FDIC-insured bank serving customers across the country.