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So far Live Oak Bank has created 220 blog entries.

Practice Financing: Long-Term Financing

By |April 14th, 2015|

What You Need to Know About Practice Financing

The veterinary community is an evolving yet thriving industry with many opportunities as well as some challenges. Among the challenges practice owners often face is financing. Bankers want to lend money to good businesses; veterinary practices are good businesses.

Practice owners seeking to fund a specific project, such as a business or real estate acquisition, expansion, remodeling, or large equipment purchase should utilize long-term financing or a term loan. Financing a project over the proper term is important. A project should be accretive, or create additional value to the business, while providing sufficient cash flow to service the debt incurred and an additional return to the owner.

Short-term financing, such as lines of credit, should be reserved to shore up working capital and pay expenses during irregular cash flow cycles.

Seek loans with longer loan terms and no balloons. Balloon is a term used to describe when a loan does not fully amortize over its term. This means […]

What is Cash Flow? Part 1

By |April 3rd, 2015|

Many factors will affect the strength and success of your funeral home, including the financial decisions you make for your business. As a business owner, you want to look for ways to improve the business financially. Are there ways to cut expenses? In what ways can you better serve your customers while also improve profits? If you’ve asked these questions, then you may have been looking to improve your cash flow. In this series, we will explain what cash flow is, why it is important, and how to analyze it easily; then we will review ways you can improve your funeral home’s cash flow.

What is Cash Flow?

In its simplest definition, cash flow is the difference between revenues (or sales) and expenses that a business incurs in any given period. If there is more cash coming in from revenues than going out from expenses, the cash flow is positive. Conversely, if expenses are higher than revenues, the cash flow is negative.

Net Income and Cash Flow are often […]

Terry Campbell to Lead Live Oak Bank’s Self-Storage Lending Division

By |March 25th, 2015|

Live Oak Bank is pleased to announce Terry Campbell as leader of its new division offering financing to the Self-Storage industry. Terry joins the Bank with over 20 years experience in the industry. He is the former VP of Sales and Marketing and EVP of Operations for a leading Self-Storage building manufacturer.

Live Oak assembled a team of lenders and industry experts to address the need for financing to the Self- Storage industry in all fifty states. The Bank offers up to 100% financing for new construction, real estate purchases, expansion of existing facilities, refinancing of current debt, and renovation.

The Self-Storage industry has faced certain limitations with existing financing including five and ten year balloons and conservative guidelines in their approach to credit. Live Oak plans to fill a financing gap for those established in the industry that have strong cash flow, but lack appropriate collateral to secure loans with conventional lenders.

“Self-Storage has been one of the fastest growing segments of […]

Industry Insights: Transferring Vet Practices to the Next Generation

By |March 19th, 2015|

Industry Insights with Dr. Glen Hoffsis

Transferring Vet Practices to the Next Generation

Mark Milton Joins Live Oak Bank

By |March 9th, 2015|

Live Oak Bank is proud to announce Mark Milton as the new General Manager of the Funeral Home Lending division. Milton joins the Bank with over 25 years experience in the Financial Services Industry. Most recently, Milton served as Executive Vice President and Director of Institutional Services at Regions Bank where he was responsible for over $38 billion in assets.

As part of this transition, Live Oak has promoted Stephanie Dunn to the Emerging Markets division as the Director of Channel Partner Relationships. In this new strategic role, Dunn will be instrumental in developing the Bank’s growth in new markets.

“We have built significant relationships in the Funeral Industry, and I am excited to see Live Oak continue to grow with Mark leading the charge,” stated Dunn. “I enjoyed my time in Funeral Home Lending and am excited to help the bank grow in new directions. This opportunity allows me to contribute to the lending strategy at the Bank, working to define […]

Succession Financing | Webinar

By |March 4th, 2015|

Succession Financing: What’s Required for a Successful Transition

With the baby boomer generation approaching retirement, more and more funeral home owners are preparing to transfer their businesses to new leadership. This creates tremendous opportunity for the younger generation to become business owners, but proper planning is necessary for a smooth transition. It is imperative for both current and future owners to know what is involved in planning a succession as well as the financing options available.

Thank you Kates-Boylston for hosting the webinar!

 

Succession Planning | Part 2

By |March 1st, 2015|

Succession Planning with Jerry Pullins, Live Oak Bank Board Member
Part 2

US Beverage Industry Expo Appoints Live Oak Bank Executive as Advisory Board Chair

By |February 26th, 2015|

Healdsburg, Ca, Feb. 25, 2015—Wine Industry Network today announced that Jeff Clark, General Manager of Live Oak Bank’s Wine and Craft Beverage Group, a dedicated lending team for breweries, wineries, vineyards, and distilleries, will chair the US Beverage Industry Expo Advisory Board. This group of beverage industry leaders will provide expertise and guidance in the creation of the inaugural trade show and conference taking place February 16-18, 2016 at the Wardman Park Marriott in Washington DC.

“The wine and craft beverage factions have very interesting dynamics, particularly at this point in time. Their synergies are complimentary and possess unlimited possibilities,” says Clark. “The opportunity to help shape an event that brings these groups together, in a unifying city like DC, creates great potential for the beverage industry as a whole.”

The US Beverage Industry Expo will focus on the Wine, Craft Beer, Cider, and Spirits industries and will feature products and services from 300 of the industry’s best suppliers. An educational conference […]

Succession Planning | Part 1

By |February 24th, 2015|

Succession Planning with Jerry Pullins, Live Oak Bank Board Member
Part 1

Common Terms Used in Lending

By |February 23rd, 2015|

Buying, Selling, Renovating, or Refinancing?
Terms to know when meeting with your lender.

When it comes to financing your funeral home, several questions will arise. What type of loan suits my needs? What questions should I ask my lender? What should I be prepared to tell my lender?

Jargon used by lenders is not typically used in your daily work. This can make the loan application process tedious and intimating. On the other hand, terminology of a funeral home business may not be familiar to every banker! Working with a lender who understands business financing and the funeral industry can facilitate the process.

Familiarizing yourself with the following terms will help you prepare for conversations with your lender.

Loan Term

The period of time over which the loan is to be repaid.

Loan Amortization

The period of time over which the loan payments are calculated. A loan’s payments may be calculated over a period that is longer than the loan’s term.

Balloon Payment

A large single payment required at the […]

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