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So far Live Oak Bank has created 206 blog entries.

Succession Financing: What’s Required for a Successful Transition

By |January 29th, 2015|

By: The Live Oak Bank Funeral Home Lending Team

With the baby boomer generation approaching retirement, more and more funeral home owners are preparing to transfer their businesses to new leadership. Approximately 2,000-3,000 funeral home owners are looking to affect a sale or succession plan at any given time. 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.

Many banks do not understand the intricacies of the funeral space or how to structure the loan to best benefit the borrower, making it difficult for the two parties to complete the transition in ownership. Frequently, a seller finances his interest in the business to a family member or long time employee. This does not allow existing equity to be sold for cash, preventing the seller from […]

The Amigos’ F2FEC is Something New

By |January 26th, 2015|

You might say it is a re-imagined industry conference or you simply describe it as bigger, badder, bolder and different than any other amusement industry conference before it. Amigo architects Ben Jones, Rick Iceberg and George Smith believe this new “conference” will make an impact on an entire industry and they hope in the lives of entertainment center operators, manufacturers and suppliers. We sat down with the Amigos on a recent trip to Orlando and discovered three serious guys deeply passionate about the FEC Industry and willing to invest time and money for the shared vision.

Read the full article here: The Amigos’ F2FEC is Something New

Performance Management Webinar

By |January 22nd, 2015|

By EASI-Consult

What does it mean to manage performance? In this webinar, we’ll talk about 5 key steps in a Performance Management Cycle and strategies to ensure that your employees are engaged and performing to their fullest potential.

You’ll also learn how to support your employees using simple techniques such as setting effective goals, holding employees accountable, supporting their work-life balance, practicing active listening skills, giving effective feedback, rewarding effective performance and more. Have you ever wondered how to address or reward those groups of employees who exceed, meet, or fall below your expectations?

 

Download the presentation here.

NCPA Ownership Workshop Scholarship Application

By |January 16th, 2015|

Live Oak Bank, in conjunction with the NCPA Ownership Academy, is proud to announce an Ownership Workshop Scholarship Program. Ownership Workshops are specifically designed for pharmacists considering pharmacy ownership or desiring additional management skills. The Workshop will assist pharmacists in the development of tools that will guide them in pharmacy ownership and enhance their current management skills. According to the NCPA:More than 50 percent of past Workshop participants now own their own pharmacy.
Workshop details:
Date/Time:    May 1 – May 3, 2015
Where:          Las Vegas, NV
Date/Time:    August 21 – August 23, 2015
Where:          Charlotte, NC
Cost:              Live Oak Bank scholarship covers the scholarship for attending the Ownership Workshop at $1,000 per person.  This covers the registration fee, 2 nights lodging, 4 meals, workshop materials, and CE processing. Participant is responsible for travel arrangements and expenses. ***if you need additional hotel reservations you will need to let the NCPA know when you are awarded scholarship.
NCPA Ownership Workshop Live Oak Bank Scholarship Candidate Application
Submit your application to Sarah Powell, Loan Officer, […]

Live Oak Bank Begins Financing in the Wine and Craft Beverages Industry

By |January 13th, 2015|

 Live Oak Bank is excited to announce a new lending division offering financing to the Wine and Craft Beverages industry. After extensive industry research, Live Oak assembled a team of lenders and industry experts to address the need for financing to wineries, vineyards, breweries, distilleries and ancillary businesses in this space. Live Oak can provide funding for acquisitions, successions, partner buy-ins/outs, expansions, operating capital, refinances, loan payoffs and real estate.
The Craft Beverages industry, in particular the wine segment, is banked by an established, industry-specific financial community, but most existing lenders utilize conservative guidelines in their approach to credit.  Live Oak Bank 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.
“The Wine and Craft Beverages industry is in growth mode, and we’re excited to enable that growth through financing,” said Kay Anderson, General Manager of Emerging Markets at Live Oak Bank. “We will focus […]

Live Oak Bank supports another La Cima World Missions trip

By |January 7th, 2015|

With a team of three, Dave Sperows team brings relief to people in Erbil, Kurdistan, Iraq

Wednesday, January 7, 2015 – Wilmington, NC – For the past three years, Live Oak Bank has donated to the worldwide humanitarian efforts completed by La Cima World Missions. The founder, Dave Sperow, and the other two members of his team returned to the United States on January 1st after a 13-day mission trip to Erbil, Kurdistan, Iraq.

Side-by-side with physicians and other healthcare providers from the Kurdish Children’s Hospital in Erbil, they worked tirelessly in refugee/Internally Displaced People (IDP) camps. The goals of this mission were multi-faceted. Beyond providing dental care, the team also raised money to purchase clothes, food, medicine, blankets, boots, fuel and fire extinguishers.

The IDPs are mostly Christian, Yazidi and other religious minorities who have been forced from their homes by intense persecution from ISIS. Most of these people have had to run with only the clothes on their backs, and many […]

Why Now Is A Great Time To Build Your Practice

By |January 5th, 2015|

If you’ve been thinking about building your own dental practice, now’s a great time to jump in.  Market conditions continue to support favorable mortgage rates and construction costs. In addition, owning your commercial property still appears to be a reliable and potentially profitable investment for your future.
Favorable commercial property values
Commercial property values are at their lowest level in decades, providing purchasers an opportunity to obtain far more for their investment than they could have just a few years ago. Plus, property values are likely to increase over time as the economy recovers, making commercial real estate a relatively secure long-term investment. Commercial property can also become a potentially valuable source of retirement revenue – either through outright sale of your practice and the underlying property, or through sale of your practice and lease of the property, creating a life-long revenue stream.
Historically low mortgage rates
As with residential properties, commercial real estate mortgages continue to be at historically low levels. Today it is […]

Investment Advisory White Paper

By |December 30th, 2014|

How Access to Financing Affects Advisors Plans for Business Succession
Planning for an orderly business succession seems to be one of those professional best practices more honored in the breach than the observance, especially among financial advisors. Independent research shows that fewer than 40% of all advisors—including those affiliated advisors who count on their broker-dealers to provide a backup plan—have a succession plan. Among Registered Investment Advisors, 36% report having a succession plan. In addition, those advisors who have taken the time to craft a plan have not necessarily mastered the logistics for executing it successfully. This study examines the importance of available financing to advisors’ confidence in being able to fulfill their succession plans.

Read the full article here: Live Oak Bank Investment Advisory White Paper

Know The Key Players In Your Loan Process: Borrower

By |December 22nd, 2014|

When you apply for financing for a dental practice purchase, startup or construction project, you’re engaging not only your lender, but a whole group of specialists who bring your loan to fruition. Understanding the roles of the players who create and deliver your loan package can help you gather the appropriate information and more easily navigate the financing process.
So who are the players in the loan process?
Borrower
As the borrower, your role is to make sure there are no holes in your financial story. The more complete your application package is, the easier you will make the process for the bank, and for you. Furthermore, a clean, well-organized and complete package can leave a positive impression that may serve you well in the future when seeking additional funding.
If you are requesting funding for a startup dental practice, be sure to include a thorough business plan. For a practice acquisition, expansion or construction loan or refinancing package, lenders typically require your business […]

Know The Key Players In Your Loan Process: Closer

By |December 17th, 2014|

When you apply for financing for a dental practice purchase, startup or construction project, you’re engaging not only your lender, but a whole group of specialists who bring your loan to fruition. Understanding the roles of the players who create and deliver your loan package can help you gather the appropriate information and more easily navigate the financing process.
So who are the players in the loan process?
Closer
Once a commitment is made by the institution to provide financing, the closer assembles, verifies and prepares closing documents in order to complete the loan transaction. The closer arrives at detailed and accurate financial numbers, prepares all required paperwork for the borrower to sign, and walks the borrower through documentation to make sure everything is understood and the deal is successfully completed or closed. The closer also ensures proper funding of the loan.

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