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So far Live Oak Bank has created 201 blog entries.

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 demand […]

Expert Tip: Factors Affecting a Pharmacy’s Value

By |June 23rd, 2014|

A pharmacy’s value is made up of tangible and intangible assets. Tangible assets include inventory, furniture, fixtures equipment (FF&E), accounts receivable (A/R), and sometimes real estate (RE). Tangible assets are generally valued by a physical count (inventory & A/R), a book value for FF&E, and an appraised value for RE. A pharmacy’s intangible assets (goodwill) are, by definition, less exact to value. Though the ultimate selling price is determined by a negotiation between the buyer and seller, an initial valuation can be done by use of a formula. Historically, there have been many formulas, but in today’s market, two are common. Chains value pharmacies on a price per prescription filled in the past 12 months, plus inventory. Independent buyers and sellers generally value pharmacies by a business’ enterprise value. The enterprise value is calculated by a multiple of normalized EBITDA, or Net Operating Income (NOI), plus the tangible assets. Generally, the multiple of NOI ranges from 1.5x to 4x, with […]

Be aware of the downsides

By |June 18th, 2014|

Naturally, as with any investment, there are inherent risks in purchasing a business property, as well as predictable headaches that come with dental practice ownership.  For example, if the real estate market loses value over a long period of time after your purchase, or the character of the neighborhood changes for the worse, you risk losing equity and your practice may suffer.  Also, making a real estate purchase may require a large cash down payment that could be otherwise put to immediate use in growing your practice.  And of course, as a property owner you bear all the inconveniences and costs associated with property ownership, including maintenance and repairs, property taxes and impacts of zoning regulations.

But be aware that despite the various disadvantages, many dentists have made the leap to commercial property ownership in less favorable markets than the current one and realized significant success over time.

Top Notch Industry Speakers Share Valuable Information

By |June 11th, 2014|

Attendees of the LASERTRON May Conference were treated to a wealth of information pertinent to their businesses and future goals.
Industry leaders, Ben Jones and Michael Getlan presented “Customer Service & The Intangibles of Business” which ranked #1 as Most Helpful on the attendee surveys. Role playing, sharing of ideas, real world techniques and their many combined years of experience all contributed to a great presentation.
Ben Jones, representing Live Oak Bank presented “Business Plans: Show Me the Money” on the first day of the conference. It was not your typical “how to” write a business plan session, rather one from an equity investors and bankers perspective.
Here are just a few of the testimonials we received from attendees of the May Conference.

“A well needed injection of core knowledge and values to help me operate my center better”- Tony Houst-Space Entertainment Center

“As a manager of a location that runs LaserTron the information regarding management, hiring, training and customer service absolutely gave me new and […]

Live Oak Bank partners with Make-A-Wish® Eastern North Carolina to fulfill a little girl’s wish

By |June 3rd, 2014|

Monday, June 2, 2014 – Wilmington, NC – Today, Live Oak Bank is hosting a send-off party for Jazzmin, an 11 year-old Make-A-Wish® child whose wish is to go to the Florida Keys to swim with the dolphins. It will be a highlight in her life, as she has been battling a genetic pancreatic disease since she was just 15 months old.

“A wish come true helps children feel stronger, more energetic, more willing and able to battle their life-threatening medical conditions,” expressed Janis Netherland, Director of Philanthropy in the Wilmington area for Make-A-Wish Eastern North Carolina.  “With 200 kids scheduled to receive their wish this year, the support of companies like Live Oak Bank is critical to ensure these wishes are granted.”

“We are so grateful to be a part of Jazzmin’s wish,” commented Laura Petty, Marketing Programs Manager at Live Oak Bank. “This is our second year being involved with this amazing organization that is making a difference in the […]

Three Amigos Iceberg, Jones And Smith Plan F2FEC: Phoenix, Feb. 24-26

By |June 2nd, 2014|

ROCHESTER HILLS, MN — Three longtime innovators in the family entertainment center industry are planning to stage a comprehensive FEC conference in February 2015. Rick Iceberg of C.J. Barrymores (Clinton Township, MI) again has teamed up with Ben Jones, Live Oak Bank (Rochester Hills, MI), and George Smith, Family Entertainment Group (Barrington, IL), to organize F2FEC (Face to Face Entertainment Conference). Known familiarly as the “Three Amigos,” all are veteran operators, industry supporters and active volunteers with 95 years’ combined experience in family entertainment.
The Amigos last joined forces for an FEC workshop in Phoenix under the auspices of the International Association of Amusement Parks and Attractions in 2013. “FEC Phoenix was groundbreaking, well received — and we feel that we only got it 70% right,” Iceberg said. “We can do better, do more, and we can create a better experience and value for everyone attending.” They therefore will return to Phoenix from Feb. 24 through 26 of next year with a pledge for the new F2FEC: […]

Tax advantages of ownership

By |May 28th, 2014|

Real estate property owners enjoy tax advantages unique to ownership, including the ability to write off mortgage interest as well as depreciate the value of any owned buildings over a 39-year period on a straight-line basis.  Both of these types of deductions reduce overall taxable income, saving cash flow that can be reinvested in the business. When these tax write-offs are combined with Section 179 deductions for purchasing equipment, the small business owner has a meaningful toolbox sponsored by the IRS for decreasing their tax burden and offsetting the inherent costs of property and business ownership.

Aqueous Art by Sean Ruttkay

By |May 5th, 2014|

Recently, Live Oak Bank partnered with local Wilmington artist and photographer, Sean Ruttkay to outfit the Live Oak Bank headquarters with his Aqueous Art line as well as provide local photography solutions for Live Oak Bank marketing efforts. Through running his small business and his visual aesthetic, Sean captures our community of Wilmington, NC beautifully. Understanding the importance of local small businesses, Live Oak Bank supports Sean’s vision of Aqueous Art.

Influenced by the guiding principles of Evidence-Based Design (EBD), Aqueous Art captures the soft fascination found in water and when installed transforms physical environments into restorative spaces. Numerous studies have shown that occupants of these spaces gain substantial physiological benefits as well as tangible positive outcomes. Ruttkay says, “The infinite colors, forms, textures and sounds of water have the power to stimulate minds, change moods, and even heal the sick. Reproducing the powerful optic beauty of water is the mission of my work.”

Aqueous Art is found in various mediums hanging […]

Client Engagement: Connect With Clients

By |May 1st, 2014|

The first step to enhancing client service is to become a client-centered hospital and make it a goal of the business to consistently deliver exceptional service while always striving to exceed the needs of clients.  Next you must hire employees with positive attitudes who are motivated to provide outstanding service.  Then focus on the following 3 key areas to ensure success in achieving your goal.

Veterinary Client Engagement: Connect With Clients 

One of the best ways to provide tailored, sophisticated service is to connect emotionally with clients and recognize their unique needs.  Don’t lose sight of the client’s perspective when communicating with clients.  Remember to focus on what clients are feeling and what they need from the healthcare team as well as what their pet needs.

Give clients compliments.  Everyone likes to receive compliments so look for opportunities to say something nice to clients.  Always praise clients about how well they take care of their pet because this will reinforce your position on […]

A Primer on Pharmacy Financing: Real Estate Financing

By |April 29th, 2014|

Banks are actively seeking good projects to fund and that includes independent pharmacies.

One opportunity for a pharmacy owner to best position the business and increase their future wealth is to own the building where the pharmacy is located. In recent years, commercial real estate values have reset and many commercial properties have become available and more affordable. Consequently, a number of pharmacy owners have taken advantage of the opportunity to become their own landlord. Purchasing an existing building, building a new facility, or remodeling an existing store are generally easily finance-able and banks often provide 100 percent financing for such a project. It can be helpful to include real estate in a business loan, whether it is an acquisition, expansion, refinance, or a start-up. Including real estate in a loan will allow the bank to lengthen the term. Real estate loans are generally termed over 20-25 years, making payments very affordable.

Read the full article here: A Primer on Pharmacy Financing

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