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Krisiann Jackson

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Live Oak Bank Crosses Investment Advisory Lending Milestone

By |July 22nd, 2014|

$100 Million in loans have been made to Investment Advisors nationwide

WILMINGTON, NC – July 1, 2014 – Live Oak Bank, the nation’s only bank whose sole mission is to lend to independent business owners, announced today that it has  extended a total of $100 million dollars in loans to Investment Advisors, reaching this milestone after only sixteen months of lending activity.

Advisors have taken advantage of the Bank’s lending programs to acquire other firms, purchase books of business, finance succession plans, tuck-in advisors to their platforms, gain access to working capital and buy their corporate real estate.

“When we launched this specialty, there was a real lack of capital available to financial advisors who wanted to grow their business. By reaching this milestone we have proven our theory that advisors are eager to leverage financing to achieve their objectives,” said Steve Smits, General Manager of Investment Advisory Lending.

Live Oak Bank’s Investment Advisory vertical debuted in late 2012. With financing in great [...]

RePlay Article: FEC Financing

By |April 23rd, 2014|

If finding your mission in life involves locating the intersection of your talents with the world’s needs, then family entertainment pro Ben Jones has found his sweet spot. Jones, a former hotel and FEC operator who most recently headed up IAAPA’s outreach to family entertainment facilities, has teamed up with Wilmington-based Live Oak Bank to provide capital to existing operators looking to grow their businesses.

“I love what I am doing. I like the people, the bank and the culture,” said an effusive Jones when we caught up with him last month. “I think they have a good reason for lending money. We have an overriding objective of fostering safety and soundness, and we want to help people grow their business. I joined the bank because I felt I could make a difference. It’s not just making loans but enhancing the industry that attracts me.”

In his new role at Live Oak, Jones will essentially create an FEC division. He connected with the bank through former IAAPA Chairman Bob Rippey, who was familiar with the financial institution and knew they were looking at new markets. Live Oak [...]