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Live Oak Banking launches lending unit for franchise restaurants

Wilmington, N.C.-based Live Oak Bancshares Inc. unit Live Oak Banking Co. launched a lending division catering to the franchise restaurant industry.

The division will include franchise businesses ranging from quick-service and fast-casual to full-service dining.

The new team, which includes senior loan officers Sims Richardson and Brian Faulk, will be led by general manager Lew Woodbury. Jeff Brock will provide guidance as the team's industry expert.