Steven Smits
Retired Executive
- Role
- Head of Commercial Bank at Live Oak Bank
- Location
- Wilmington, NC, US
- LinkedIn followers
- 500 followers
About Steven Smits
Steven J. Smits, is the Chief Credit Officer for Live Oak Bank. He is the former Associate Administrator for the Office of Capital Access at the Small Business Administration. In this role, he managed and oversaw the agency’s programs and operations that are designed to expand access to capital for America’s entrepreneurs and small business owners. These responsibilities included the agency’s loan and microloan programs, risk management and credit risk management, financial programs operations centers, and more. Smits was responsible for advising the Administrator and overseeing, within the Office of Capital Access, the agency’s reforms to make it more responsive to both borrowers and lenders. This included the implementation of many of the provisions in the Small Business Jobs Act that was signed into law by President Obama in September 2010.Prior to joining the SBA in October 2010, Smits was a leading lender in the small business community, often managing SBA loan operations and portfolios for top financial institutions. He served as vice president and team leader at Quadrant Financial, a subsidiary of Chatham Bank of Savannah, Ga; vice president and regional sales manager of PNC Bank of Pittsburgh, Penn; and vice president of FCNB Bank of Rockville, Md, among others. Most recently, he served as vice president of operations for Mid-Atlantic Financial Partners. Altogether, he has worked to provide financing solutions to small businesses for more than 20 years.Smits has also volunteered with the Maryland Small Business Development Centers, an SBA resource partner. He holds a master’s degree in Business Information Systems from Johns Hopkins University, in Baltimore, Md, and a bachelor’s degree in Finance from Saint Vincent College, in Latrobe, Penn.
Experience
Head of Commercial Bank
Aug 2024 — Present · US
Education
The Johns Hopkins University - Carey Business School
MS, Business
1992 — 1994
Saint Vincent College
Bachelor of Science (BS), Finance, General
1985 — 1989
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