NCPA Ownership Workshop Scholarship Application

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, Pharmacy at

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

 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 on strategic partnerships within the industry and the knowledge of our senior lending team to quickly gain momentum,” Anderson stated.

“I’m thrilled Live Oak is stepping into this space. Having been in the industry for over 20 years, I’ve seen the growth in the demand for lending,” said Jeff Clark, Domain Expert for the Wine and Craft Beverages segment at Live Oak. “Live Oak’s loan structure, cash flow credit orientation, speed and service differentiate us from other lenders in the space, and position us to meet that demand.”

The Live Oak team has extensive lending experience and industry knowledge, enabling them to structure loans designed to meet the unique opportunities facing the Craft Beverages industry. Live Oak is designated as a preferred lender by the Small Business Administration (SBA). This designation allows the bank to make loan decisions at a more efficient and faster pace, leading to quicker access to the necessary funding. Like all of their industry commitments, Live Oak Bank is invested in becoming a leader in financing this space.

Live Oak Bank supports another La Cima World Missions trip

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 of them have had family members murdered or enslaved by ISIS. They have been surviving by living in any available shelter. Parking garages and abandoned buildings have been converted into makeshift indoor tent-cities. Others are living in actual tents that have been put up in various camps around Erbil.

As winter closes in, it has begun to rain and it is getting cold. Many people are at great risk due to the deteriorating weather conditions. When they were forced to flee, it was a hundred degrees and they had no winter clothing. Now they are woefully unprepared to deal with the elements. Rubber boots were purchased to replace sandals and warm weather footwear that are useless in the mud that now makes up the surroundings in the tent cities.

One of the problems with the cold weather and tent cities is that they are forced to use kerosene heaters to try to stay warm. Over the months,these folks have accumulated a wide variety of items that they cram into their tents. This turns into a very densely packed tent in which most of the goods are flammable. It is not uncommon for kerosene heaters to be tipped over and set a tent on fire. These blazes spread quickly and in tent cities, they kill fast. By providing fire extinguishers, they can be strategically and safely placed in the camps.

“Live Oak Bank is proud to support another worthwhile cause through La Cima World Missions,” commented JP Blevins, General Manager of Live Oak Bank’s healthcare division. “It says a lot about Dr. Sperow and his team that they are willing to spend their holidays in remote, impoverished parts of the world using their skills to provide dental and medical services to those in need.”

“This mission never would’ve been possible without Live Oak Bank making the initial donation, kicking off our fundraising efforts for our trip to Iraq,” expressed Dave Sperow. “We raised and spent nearly $70,000 on aid for the IDP’s. In all of my years of being involved in humanitarian outreach, this was one of the most tragic situations I have ever experienced. I am so grateful that we were able to bring a bit of comfort and a couple of week’s worth of food to these people.”

Why Now Is A Great Time To Build Your Practice

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 possible to secure long-term commercial mortgage payments that rival the rental payments for a comparable leased space. In addition, down payments for financing can be as low as 10% of the total loan amount if financing is obtained through an SBA program.

Stable construction costs

Costs for construction materials like plywood, copper, and diesel fuel have climbed during the “Great Recession,” jumping 5.4 percent during 2010.*  Nevertheless, construction companies are still holding the line on bid prices due to intense competition and weak demand for their services.  As demand for commercial building construction increases with a recovering economy, expect construction costs to increase as well. Now is an excellent time to build your own practice, while the costs of building remain relatively stable.

So if you’re considering building your own practice, don’t wait.  Current market conditions have created an unprecedented opportunity to invest in your future at historically low costs. But the opportunity won’t last forever.

*Modern Distribution Management, “Construction Firms Face higher Materials Costs, Flat Building Prices,”, January 13, 2011.

Investment Advisory White Paper


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

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?


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 financials only.

When applying for a practice loan, consider choosing a specialty lender that is familiar with the dental industry. A specialty practice lender can make the loan process more efficient for you, as they already understand your business and the specific funding needs of the dental practice.

Know The Key Players In Your Loan Process: Closer

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?


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.

Live Oak Bank Announces Financing to Texas-based Pinballz

Tuesday, December 9, 2014 – Wilmington, NC – Live Oak Bank, headquartered in Wilmington, NC, the nation’s only bank whose sole mission is to provide financing to independent business owners, announced financing to Pinballz Arcade and Pinballz Kingdom. The original business, Pinballz Arcade, is based in Austin, TX, with Pinballz Kingdom recently opening a second location in Buda, TX, on the south side of Austin.

Owned and operated by Darren Spohn, Pinballz obtained financing to assist in refinancing existing debt and to provide additional working capital for the renovation and purchase of equipment at the new Buda location.

“Live Oak Bank’s friendly and professional team made it a point to fully understand our business, and even assigned an FEC advisor who was extremely knowledgeable in the industry and served as an active and valued advisor,” said Darren Spohn, President and CEO of Pinballz Arcade.  “The entire management team showed a genuine interest in our success more than just making a return on their investment, structuring a loan focused on long term ROI rather than short term profit.”

“It’s exciting to see success like this in the industry,” said Live Oak Bank FEC Specialist Ben Jones. “We are talking to more and more operators like Darren of Pinballz, who are seeking capital to create meaningful changes that lead to a sustainable and more relevant business.”

About Pinballz

Pinballz is a Texas-based, small business designed to provide high quality arcade style entertainment with retro classic flare and a trend forward relevance for ages 8 to 88 to play together at an affordable price. The ability to combine the top rated pinball machines of all time, with classic and new arcade and redemption games, while enjoying food and drinks separates Pinballz from almost every competitive establishment. For more information, please

Sarah Carroll, Marketing Programs Manager, Live Oak Bank
910.550.2308 office

Live Oak Banking Company. Member FDIC. 2014 Live Oak Banking Company. All rights reserved.

Know The Key Players In Your Loan Process: Chief Credit Officer

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?

Chief Credit Officer

The chief credit officer holds a senior management level position, often working in conjunction with the bank’s board of directors and senior officers to ensure the quality of the bank’s lending portfolio. The chief credit officer has the final say on whether or not to lend, providing ultimate approval or disapproval of each loan application that comes through the bank’s door. An experienced CCO can review and approve or reject a loan application in about 48 hours. The chief credit officer may also create policies and guidelines for granting credit to the institution’s customers, as well as strategies for managing the bank’s lending portfolio to ensure it continues to meet the organization’s goals.

Will Your Pharmacy Survive Winter Holiday’s?


What if we told you it’s possible to do more than just “survive” this Holiday Season?

Black Friday has officially kicked off this year’s busy retail season, and you may be wondering how you will survive Christmas 2015. We know firsthand that major shifts in customer volume and stock shortages are hard to predict. Nevertheless, we want to assist you in taking care of the things that you can control. And, to help you eliminate stress and make sure your operations run smoothly, we created a simple list of practical tips that will help prepare your pharmacy for the Holiday Season.

  1. Make sure your shelves are properly stocked, so customers who come in to purchase specific items don’t have to wait in the long lines just to ask if you have more. On the flip side, avoid packing shelves with too much merchandise: displaying fewer items creates the sense of urgency and motivates customers to buy while supplies last.
  1. Place products strategically throughout the store to maximize sales. Get creative – repare a speedy recovery kit: tissue paper, hand sanitizer and cold medicine – and display it next to the checkout line or in the areas where customers are waiting on their prescriptions. This will help sell individual items faster, and your patients will know that you care. Eager to introduce new items or promote existing merchandise? Display them next to your holiday best sellers for more visibility and they won’t go unnoticed.
  1. Organize selling floor and supply areas so additional merchandise is readily available for quick restocking, especially during rush hours and after store closing. The last thing you want to do is to spend time trying to hunt down a specific product, especially while your customer is waiting.
  1. Consider extending holiday hours. Everyone is busy – with six fewer days between Thanksgiving and Christmas this year – your time-crunched customers will appreciate the convenience of having an extra hour of uninterrupted shopping. There should be nothing more important than serving your customers.
  1. Evaluate last year’s holiday sales to plan and effectively organize staff: reports that are available in your POS system may provide an insight on customer count for a specific time frame, allowing you to quickly identify peak retail shopping hours and schedule more employees for when you need them. Slack times may also be leveraged with preassigned projects: for example, frontline employees who normally run cash registers can help organize shelves and clean the floor during less busy hours.
  1. Prepare your staff: for some of your employees this may be their first retail season. Working through holiday hassle and bustle can be overwhelming, so make sure your team understands the responsibilities and has all available resources to effectively prioritize and complete tasks.
  1. Use sales games as positive reinforcement to reward your staff when they practice higher level selling skills. For example, if the average items per sale in your store is 2.27 items, you should reward them for higher results – like selling 4 or more items to a single customer or achieving a daily average of 3 items per sale or more. To hit those goals, they will have to try harder at adding-on with every customer. The key to making games work for your employees is to make them fun!

This article was provided by Pharmacy Development Services