How can a Live Oak Bank loan help me with succession planning in my business?

Experienced lenders recognize that funding a loan for next generation family members (or for key employees) to enable the current owner to phase out of the business or retire is an important part of long term financing. Typically, the current owner(s) is desirous of “cashing out” of the business and wants to be paid not only for real estate, but also for goodwill. SBA loans may be used to fund the sale of business assets and goodwill to a new owner, including to a family member with little or no “cash” equity.