Pharmacy Lending Overview

At Live Oak Bank, our primary goal is to provide financing to independent pharmacists to help their businesses thrive. Having an owner of two independent pharmacies on our staff gives us the knowledge and experience to fully ingrain ourselves in your industry. From Senior Loan Officer to loan closing specialist, each person who touches your loan is fully dedicated only to pharmacy customers. Imagine speaking to a lender who understands how to value your pharmacy, comprehends compounding, and recognizes the ever-growing competition from the chains. Not requiring you to explain terminology and the nuances of your industry allows us more time to establish a meaningful business relationship with you.

live oak bank pharmacy loan


Our pharmacy lending team’s ultimate goal is to provide unparalleled service and guidance throughout the acquisition process. We offer real-time, automated checklists so customers never have to guess where they are in the lending process.
You have spent many years building a successful pharmacy in your community, and now you are ready to realize the value of your work. Live Oak financing can help you sell to your chosen successor, enable the transaction and pass the baton to the next generation. Let us help you keep your community legacy.
Our refinancing process is unique. Customers have access to industry experts to help them along the way, and a dedicated relationship manager after the loan is financed. With competitive rates and outstanding service, Live Oak makes refinancing an attractive option.


Our Background In Lending

Our dedicated Pharmacy lending team offers industry expertise and fast, efficient financing. We strive to build a relationship with our clients that goes beyond loan servicing to create a lasting partnership, helping you meet your business needs.

Jimmy Neil
Jimmy NeilGeneral Manager
Jimmy Neil is the General Manager for Live Oak’s Pharmacy Division. He is the former Vice President of Pharmacy Transition and Investment Strategy for the Retail Independent segment of a Fortune 20 Drug Distributor. Jimmy earned his MBA from Louisiana State University in 1994 where he went on to manage a team of commercial lenders for the U.S. Small Business Administration (SBA). He spent four years with the SBA, participating in lending to more than 1,500 small businesses before joining a major drug wholesaler in 1998 as a Regional Credit Manager. Jimmy has worked with more than 1,000 pharmacies in various stages of ownership transition – operation assessments, sales, mergers, acquisitions, financings, partnership buyouts, valuations and tax mitigation strategies. He is also a principal in two community pharmacies in Louisiana.
Mike Bollinger
Mike BollingerSenior Loan Officer
Mike has over 20 years’ experience working with community pharmacies. While earning a Business Management degree from the University of New Orleans; he worked at an independent pharmacy where he managed day to day operations. Mike is a former Director of Pharmacy Acquisition for a Fortune 20 drug distributor where he matched buyers with sellers, performed valuations, structured acquisitions, and secured financing for independent pharmacies. Mike is an expert at analyzing pharmacy financials and has facilitated pharmacy ownership of more than 70 stores. Mike’s passion includes coaching independent pharmacy owners on how to improve margins and net profit while increasing revenues, cash flows and managing operating expenses.

Whitney Bouknight
Whitney BouknightSenior Loan Officer
Prior to joining Live Oak Bank, Whitney worked in public accounting as a non-profit auditor.  She was responsible for preparing all necessary financial statement and related disclosures, and gained a thorough understanding of cash flow, income statement and balance sheet preparation. After her time in public accounting, she joined Pharmaceutical Product Development as a financial analyst. She was responsible for managing drug trial budgets for several large pharmaceutical companies.
Sarah Powell
Sarah PowellLoan Officer
As a Loan Officer, Sarah Powell evaluates loan applications and originates new loans. She joined Live Oak Bank in 2009 as a Loan Closing Specialist and has held other positions including Loan Closing Team Leader and Underwriter before becoming a Loan Officer. Prior to joining Live Oak Bank, Sarah worked as a Business Banking Assistant at Cape Fear Bank and as a Lien Clerk and Teller at BB&T. Sarah received her Bachelor of Science degree from the University of North Carolina at Wilmington.

Sarah Andrews
Sarah AndrewsLoan Officer
Sarah Andrews joined Live Oak Bank in 2012 as a finance specialist before moving into production as an Underwriter. As a Loan Officer, Sarah evaluates applicants’ financial status, credit and property as well as structures the new loan opportunities. Prior to joining Live Oak Bank, she worked as an accountant for a tax consultant and forensic accounting firm, as well as in finance at a property management firm in the southeast. Sarah received her Bachelor of Science degree in Business Management from the University of North Carolina at Wilmington, and a Master’s of Science in Accounting from the same institution and holds her North Carolina CPA license.


The Path to Ownership

  • Independent Pharmacies are Thriving: Over 23,000 Independent Pharmacists Across the Country
  • Live Oak Bank has funded over $400 Million in Pharmacy Loans since 2009
  • We look for Good Credit, Solid Cash-flow Projections and Strong Character in our Customers
  • Up to 100% Financing is Available
In the application phase, a lending team member will work directly with you to gather all information needed to prequalify you for your loan request. We strive to simplify the loan process, make it easy for you to provide your information, and keep you informed along the way. Technology allows us to give you real-time updates on loan status and offer direct interaction with your loan team members.

Here you will submit financial documents necessary for your loan approval. You will work directly with the Underwriter assigned to your loan. The Underwriter will gather your financial documents and learn your story, advocate for you and assist you throughout the review process. Specific questions regarding paperwork can be addressed directly to your Underwriter. When your loan is approved, you will receive a commitment letter with the terms and conditions of the loan.

Closing is the final phase of your loan. A loan closing specialist, or closer, will contact you to schedule a kick-off call. Your closer will then review all documents needed to complete the loan. Documents can be submitted as completed. Your closing team will also assist in reviewing document drafts prior to signing, to ensure all necessary information is included. We’ve automated this process to ensure efficiency and clear communication throughout the funding of the loan. Real-time, automated checklists are provided to illustrate your loan progress.

Over $480 Million in Pharmacy Loans Funded, Let’s See What Our Borrowers Have To Say

“Live Oak is the best bank we have ever worked with. We feel that we not only have an excellent lender to handle all of our future endeavors, but we now have trusted financial advisors and ,more importantly, friends. During this process, we could contact Ed Webman at any time and he helped us navigate through a very tedious and confusing process with ease. His ability to quickly build our trust and develop a relationship with us was and is the reason we will be committed to working with Live Oak forever.”
Matthew, RPh, Kentucky
“Live Oak Bank is truly a bank for Pharmacists looking for funding. Ed and Sarah took great care of me and the loan process went very smoothly. They helped me through the paperwork piece by piece, making the experience as painless as possible. In a world where everyone is just a number, it is refreshing to know that personal service still exists. I would absolutely recommend Live Oak Bank and their personal, professional service to anyone looking for pharmacy financing!”
Kirk, RPh, Wyoming
“Ed is as I expected him to be: Focused on the task but able to put people at ease and keep everything in perspective. I enjoyed our conversation and said that I would recommend the entire group of people that I have dealt with at Live Oak Bank to anyone in my position. You have done everything that you said you would. I couldn’t ask for anything else. Thanks for all of your hard work. I appreciate it very much.”
Jay, RPh, Minnesota

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