Death Care News

The Death Care category is for all Death Care related posts.

Notes From The Road: Succession Planning

By |July 1st, 2014|

Developing a plan to identify who will take over your funeral home is a topic I address on a daily basis. I receive phone calls from professionals who have dedicated a large portion of their career, been effectively running a business for years, and don’t know how to approach creating an exit strategy. The average funeral home in the U.S. does 80 calls. Therefore, the owner has limited access to information related to transitioning the business to the next generation.  Where do you as an owner start?

There are several barriers to a smooth transition to consider:
Barrier 1 – Lack of Experience.
Most owners have an overall lack of knowledge about the buying and selling of a funeral home. For example: There are many 80 year old owners who should have, perhaps, sold their business 15 years ago, but didn’t for various reasons. Maybe he started the business or inherited the business causing an even stronger sense of commitment to the [...]

Funding Roundtable

By |June 10th, 2014|

Funding Roundtable 

By: Lauren Moore

 

For businesses like funeral homes, funding can be incredibly important. Whether you’re looking for preneed or at-need funding, or taking out a loan to start or expand your business, there are a lot of things to consider. Doug Gober, executive marketing director at Live Oak Bank, and David Mullen, senior vice president of Forethought Financial Group, answer some of our questions about funding for death-care professionals, how to stay on top of your finances and more.

 

What kind of funding services does your organization provide?

Gober: Live Oak Bank does lending, funding for any capital projects –anything from refinance, to acquisition, to construction of a new location. We do funding of all kinds of things. We don’t do factoring of accounts receivable and small loans, lines of credit, that kind of thing. We do exclusively the large funding required to buy, maintain or refinance a business. Anything a funeral home needs, from a capital standpoint, other than lines [...]

Notes From the Road – Funeral Home Furnishings

By |December 6th, 2013|

Hello from the road, Doug Gober here, back with more “Notes from the Road.” On this occasion I’d like to discuss a topic that is often overlooked in our industry; funeral home interiors. Throughout my career, I’ve been involved in the construction of over 100 funeral homes. Through this work, it became apparent to me the importance of understanding the role environment plays in setting the tone for the client experience. It is not uncommon for me to walk into a funeral home and feel as if I’ve gone back in time to the 70’s…. or earlier.

First Impressions, the vista or what people see and feel when they immediately walk in the door of your business should be similar to a customer experience as they walk into a modern hotel.  Notice that in most modern hotels your line of site is not the check-in desk, but the space they want you to initially focus on. This includes the quality [...]

Customer Spotlight: Funeral Home Owner – Arkansas

By |October 22nd, 2013|

John
Funeral home owner customer spotlight – Arkansas

On behalf of my entire organization, I want to express my appreciation and gratitude for the outstanding job to everyone of you that had a hand in getting my loan approved, processed and completed in a very timely manner. The entire organization at Live Oak Bank has a well oiled humming machine that knows how to get things done!

The word “responsive” does not do justice to how efficient and reactive Bridget, Kate and Stephanie were in getting this deal done!  I can’t say thank you enough. This transaction will change the culture of our business and will allow us to grow and be more profitable than I could have ever imagined.

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    Live Oak Bank sponsors the NFDA’s Funeral Service Foundation Donor Reception

Live Oak Bank sponsors the NFDA’s Funeral Service Foundation Donor Reception

By |October 3rd, 2013|

Wednesday, October 3, 2012 – Wilmington, NC – On October 8, 2012, the Funeral Service Foundation Board of Trustees will host their annual Donor Reception at The Westin in Charlotte, NC, following the NFDA Annual Convention. The event is an opportunity to thank and award those who supported the foundation and to welcome new contributors.

“Live Oak Bank is proud to support the Funeral Service Foundation by donating to the organization and encouraging others to do the same,” commented Doug Gober, Executive Marketing Manager – Death Care Management at Live Oak Bank. “As a newer member of the death care community, the Bank felt that this was a great opportunity to demonstrate our commitment to the industry.”

“Thanks to Live Oak Bank for their generous exclusive sponsorship of the Funeral Service Foundation’s Donor Reception,” expressed Kathy Wisnefski, Executive Director of the Funeral Service Foundation.  “We appreciate that Live Oak recognizes the important work of the foundation, and we value our newly-formed partnership.  [...]

Customer Spotlight: Scott & Debbie Funeral Home Owners – Alaska

By |September 4th, 2013|

Death Care Customer Spotlight

Debbie and Scott share how working with Live Oak Bank is different than other banks.

Notes From The Road

By |July 31st, 2013|

Hello from the road, Doug Gober here. I began my career in Funeral Service thirty-four years ago as a sales representative in the casket industry. Throughout my career I’ve been involved with and have seen many industry-changing innovations. I joined the team at Live Oak Bank in 2011, and currently serve as the liaison for Funeral Service.

Live Oak Bank is the number one lender to businesses in Funeral Service. Our client service model and knowledge has led us to that designation. Our business model is much like that of funeral service, in that we believe that a face-to-face encounter with our customers is invaluable. Part of what we do includes onsite meetings with each client we lend to. Part of my responsibility is to travel the country, meet our borrowers in person, form relationships and learn about their business needs. The purpose of this forum, “Notes from the Road”, is to regularly share insights on industry trends I see [...]

Funeral Home Owner Customer Spotlight: Jeffrey – California

By |February 11th, 2013|

Funeral Home Owner Customer Spotlight

Funeral Home Owner, Jeffrey, shares his experience about working with Live Oak Bank.

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    Live Oak Bank Announces New Partnership with Selected Independent Funeral Homes

Live Oak Bank Announces New Partnership with Selected Independent Funeral Homes

By |January 31st, 2013|

Live Oak Bank is proud to announce the designation of Preferred Partner with Selected Independent Funeral Homes, with a membership comprised of the very best independent and locally owned funeral homes.
In 1965 Selected Independent Funeral Homes developed the Code of Good Practice, which sets standards of service and quality that members pledge to uphold. This prestigious association allows new membership by invitation only, through a grassroots referral program. The partnership with Selected will allow Live Oak Bank the opportunity to provide lending solutions and financing to members. “We are very excited for the opportunity to partner with Selected Independent Funeral Homes. Our dedicated Death Care Management Team is eager to help contribute to the success of Selected and their members,” commented Stephanie C. Dunn —Senior Loan Officer with Live Oak Bank.

Funeral Home Customer Spotlight – Michigan

By |November 1st, 2012|

Jodi
Michigan

When we sat down with Chip, Kay and Doug, it was unique that they wanted to travel to Michigan to see our business. Unlike most banks, they wanted more than just a loan; instead, they wanted to establish a friendship.