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So far Live Oak Bank has created 193 blog entries.

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

Why Now is the Right Time to Buy

By |April 29th, 2014|

There are several key reasons why now is an excellent time to invest in commercial real estate.

Property prices have bottomed.  As with the residential market, commercial property values seem to have bottomed out.  In most markets today, a typical mortgage payment is equal to or less than a rent or lease payment.  At today’s CRE prices, you can retain more of your cash flow or acquire much more real estate for your investment than you might have just five years ago – all while investing in your future growth.

Abundant inventory.  In addition, commercial properties are currently available in abundance in most markets, providing an excellent opportunity to secure a prime location at a very reasonable price.

Rates at historic lows.  While business property rates will never be quite as low as those for residential properties, they are nevertheless mimicking the housing market with rates that are now at historic lows for commercial real estate. Your CRE loan today will cost you […]

Building a Foundation for Growth

By |April 23rd, 2014|

Owning your dental business property, along with your practice, has the unique advantage of laying a broader foundation for future growth. The three most significant advantages to owning your business real estate are:

Control.  When you own the business property as well as the practice, you have complete control to develop, operate and modify the building to your needs as the practice evolves, and as zoning regulations allow.  You are no longer at the mercy of your landlord’s guidelines for space modifications, and can adapt your building infrastructure to accommodate future developments in dental technology.  This gives you maximum flexibility to build the practice you want with the building and equipment enhancements you need.

Stability.  When you own your own property, whether a home or a business, you enjoy greater long-term stability in the costs associated with the property. You can more easily project the annual costs for your practice investment according to your mortgage contract, insurance and estimated property tax, without […]

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