Live Oak Bank Continues to Evolve with New Investment Advisory Financing Vertical

Tuesday, November, 20, 2012 – Wilmington, NC – Live Oak Bank is proud to announce a major commitment to providing much needed financing in the Investment Advisory industry. After extended industry research, Live Oak has gathered a team of lenders and industry experts to address the gap in financing for Independent Investment Advisors. The Live Oak lending product offerings include merger & acquisition, succession funding, partner buy-in/out, expansion, operating capital, refinance, loan payoff, start-up and real estate.

In speaking with numerous investment advisors and industry resources, it became clear that many advisors had strategic plans for succession or expansion without a clear financial resolution to precede these transactions. With no formal industry lending programs available, Live Oak has come up with the valuable solution to fill this gap and provide real cash flow lending. Through leveraging the success of other LOB lending verticals, the bank is able to view collateral differently coupled with their niche industry focus.

“We clearly see a gap in financial options and are committed to filling that gap,” said Steve Smits, General Manager of Live Oak and former Associate Administrator for the Office of Capital Access at the U.S Small Business Administration. “We believe working on strategic partnerships with key third party organizations will be the key to success and growth of development,” Smits added. “I’m excited about this niche focus having been within the industry and realizing the great demand in lending needs. This opportunity will cater to that demand,” said Jason Carroll, managing director of Advisory Lending at Live Oak Bank.

The Live Oak team of Investment Advisor industry experts, coupled with their lending industry background, enables them to structure loans designed to meet the unique opportunities facing the Investment Advisor industry. Live Oak is designated as a preferred lender by the Small Business Administration (SBA). This designation allows the bank to make loan decisions at a more efficient and faster pace, leading to quicker access to the necessary funding. Like all of their industry commitments, Live Oak Bank is invested in becoming the leader in financing independent Investment Advisors.