CSRMay 27, 2026, 08:02 AM
Live Oak Bank's $1M Grant to Forward Fund Yields Strong First-Year Impact
AI Summary
Live Oak Bank announced the first-year impact of its five-year, $1 million grant to The Forward Fund, a North Carolina-based pay-it-forward financing model for career training. In its inaugural year, the program issued $2.3 million in zero-percent interest loans to over 270 individuals. Loans in repayment have already generated an estimated $2.8 million in new annual earnings, demonstrating a significant return on investment in workforce development and economic mobility.
Key Highlights
- Live Oak Bank committed $1 million over five years to The Forward Fund.
- The program issued $2.3 million in loans to over 270 individuals in its first year.
- $1.4 million in loans in repayment generated an estimated $2.8 million in new annual earnings.
- This represents nearly a 2-to-1 return in first-year income.
- Eight community college and training program partnerships were established.
- Average post-program salary exceeded $45,000.
Price Impact
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