Live Oak Bank is proud to announce expansion into the Family Entertainment Center (FEC) Industry. Dedicated to provide lending options for industries that often have difficulty finding financing, Live Oak Bank has chosen to fill the gap for Family Entertainment Centers. Through industry research, the Bank has assembled a team of experienced lenders and domain experts to aid in the success of this industry. Live Oak Bank will provide financing for expansion, remodeling, new construction, acquisition, succession planning, and refinancing.
The Live Oak team of FEC experts and lending specialists enables them to structure loans to best meet the unique factors facing borrowers in the Family Entertainment Center industry, which includes small business owners of establishments ranging from miniature golf to roller skating rinks; arcades to bowling centers; go-karts to waterparks.
“In the past, no national lender has tried to understand the FEC business and because of that, there is tremendous opportunity for a niche lender like Live Oak to embrace the FEC community and make a difference,” stated Ben Jones, Live Oak Bank’s FEC Domain Expert.
“Entering this new industry is an exciting endeavor for us. After extensive research, we understand the critical market factors, have developed sound underwriting models, and we feel well suited to serve this vertical effectively,” stated Neil Underwood, President of Live Oak Bank.
Live Oak Bank was founded to provide small business loans to professionals looking to start or expand their business. Aside from acquisitions and refinancing, Live Oak’s lenders specialize in real estate loans and ground-up construction projects. The bank originally began lending to veterinarians, and has since expanded to dentists, independent pharmacists, funeral home owners, and investment advisors nationwide. Having a keen industry focus and trade specialists on board, enables the bank to offer an unparalleled level of service to the client.