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Live Oak Bank is highlighting the first-year impact of a five-year, $1 million commitment to The Forward Fund, supporting the organization’s pay-it-forward financing model for career training and upskilling in North Carolina.
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In its first year, the program issued $2.3 million in loans to over 270 individuals.
Live Oak Bank announced a $1 million grant to The Forward Fund, North Carolina’s first pay-it-forward fund dedicated to financing career training and upskilling for working adults.
The grant launched in 2025 and will be paid over five years.
The Forward Fund offers zero-percent interest financing for training, living expenses, and support services in high-demand fields, including commercial driver’s license (CDL), basic law enforcement training, registered nurse refresher, and electrical lineworker programs.
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When graduates repay their loans after securing living-wage jobs, those funds are recycled back into the fund to support the next generation of students, creating a self-sustaining talent pipeline that reduces reliance on one-time grants.
Promising Progress in Year One
Since the program launched in 2025, the results demonstrate a strong early foundation:
- $2.3 million in loans issued to over 270 individuals through The Forward Fund’s pay-it-forward financing model
- $1.4 million in loans now in repayment have generated an estimated $2.8 million in new annual earnings, nearly a 2-to-1 return in first-year income
- Eight community college and training program partnerships established across North Carolina
- Average post-program salary of over $45,000, supporting family-sustaining incomes
Building Economic Mobility for the Future
“Too many hardworking North Carolinians are held back not by talent or drive, but by an inability to afford the training needed for a better career, but not anymore,” said Meaghan Dennison, founder & CEO of The Forward Fund. “This partnership with Live Oak Bank is helping create a sustainable pathway to economic mobility. In just one year, we’ve seen firsthand how access to flexible, zero-interest financing can change lives, strengthen families, and help employers meet workforce demand in critical industries.”
Live Oak Bank’s Commitment to Workforce Development
“Live Oak’s grant to The Forward Fund is part of our broader commitment to workforce development,” said Kate Groat, head of corporate philanthropy at Live Oak Bank. “The Forward Fund’s pay-it-forward model creates real, lasting change for individuals and our economy, and that’s exactly the kind of work Live Oak is proud to support.”
The bank’s philanthropic approach focuses on initiatives that help individuals build meaningful careers with family-sustaining wages, benefits, and upward mobility, while addressing critical talent gaps across North Carolina.
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