Impact of Government Shutdown - The Small Business Administration (SBA) was prevented from delivering over $5 billion in loans to approximately 10,000 small businesses due to the government shutdown [1][2] - The shutdown potentially cost the American economy $100 billion in economic activity and 60,000 lost jobs [5] - The SBA is rapidly processing delayed loans to reopen Main Street [3] Economic Outlook and Small Business Confidence - Small business confidence is at a 7-year high and above its 52-year average, even amid the shutdown [8][9] - GDP growth was 3.8% in the last quarter, and wages are growing faster than inflation for the first time in four years [6] - $17 trillion is expected to come into the country, much of which will be deployed at small businesses [6] Labor and AI - The percentage of small businesses mentioning labor quality as their single most important problem jumped to 27%, up nine points month over month [11] - The SBA is focused on skilled labor opportunities, working with Secretary Chavez Dreamer to support an initiative to have over 1 million apprentices [13] - AI is expected to level the playing field for small businesses, enabling them to compete with larger businesses [16] Trade and Investment - The United States is a source of about 60% of the world's capital, being invested at unprecedented levels [19] - Over $100 billion in total capacity is going out to small businesses, reflecting their confidence to invest, borrow, grow, and hire [20] - Fair trade policies are expected to bring back industries and enhance national security [24]

Small Business Loans - The report focuses on comparing the best online small business loans [1] - Eligibility requirements and loan options are key factors for comparison [1] - The goal is to help small businesses make the right loan choice [1]

Company Overview - Live Oak, a North Carolina-based tech-focused bank with $14 billion in assets, specializes in government-backed small business loans [1] Market Position - Live Oak dominates the government-backed small business loan sector [1] Investor Sentiment - Wall Street does not give Live Oak the recognition it deserves [1]

Small Business Loans - The report focuses on comparing online small business loans [1] - The comparison includes eligibility requirements and loan options [1] - The goal is to help businesses make the right loan choice [1]

Small Business Loans - Small business loans could be easier to get [1] Entrepreneurship - Entrepreneur makes small business loans more accessible [1]

Company Focus - Live Oak, a North Carolina-based tech-focused bank with $14 billion in assets, specializes in government-backed small business loans [1] - Despite its dominance in the government-backed small business loan sector, Wall Street does not recognize Live Oak [1]

Core Points - Quaint Oak Bancorp reported a net loss of $83,000 for Q1 2025, a significant decline from a net income of $873,000 in Q1 2024, reflecting a decrease of 109.5% [1][3] - The decrease in net income was primarily driven by a $2.2 million (18.1%) drop in interest and dividend income, alongside a $419,000 (8.2%) increase in non-interest expenses [3][4][9] - The company's Total Risk-Based Capital Ratio improved to 13.92% as of March 31, 2025, compared to 13.61% a year earlier, indicating a stronger capital position [2] Financial Performance - Interest and dividend income decreased by $2.2 million, primarily due to a reduction in the average balance of loans receivable, which fell by $69.8 million from $658.4 million in Q1 2024 to $588.7 million in Q1 2025 [4] - Interest expense decreased by $930,000 (13.9%), largely due to a $1.3 million (21.0%) reduction in interest on deposits [5][6] - Non-interest income increased by $178,000 (11.3%), driven by a significant rise in gains from the sale of SBA loans [8] Asset Quality and Loan Portfolio - Non-performing loans totaled $5.9 million, or 1.13% of total loans receivable, showing an increase from $5.7 million (1.07%) at the end of Q4 2024 [19] - The Texas Ratio improved to 9.22% from 11.96% a year earlier, indicating better asset quality [2][29] - The provision for credit losses decreased by $695,000 (61.2%) compared to Q1 2024, reflecting a decrease in loans receivable [7] Balance Sheet Highlights - Total assets decreased by $34.8 million (5.1%) to $650.4 million as of March 31, 2025, primarily due to declines in cash and cash equivalents and loans held for sale [11] - Total deposits fell by $45.7 million (8.3%) to $507.6 million, mainly due to a $47.8 million decrease in interest-bearing checking accounts [13][14] - Federal Home Loan Bank borrowings increased by $17.1 million (35.8%) to $65.0 million, reflecting the company's funding strategy [15] Capital Structure - Senior debt increased to $9.5 million from none at the end of Q4 2024, following the issuance of Fixed Rate Unsecured Senior Notes [16] - Subordinated debt decreased by $14.0 million (63.6%) to $8.0 million as the company repaid a portion of its outstanding subordinated notes [17] - Total stockholders' equity decreased by $353,000 (0.7%) to $52.3 million, impacted by dividends paid and the net loss for the period [18]