Having enough of the right equipment is always important when you’re trying to produce enough spirits to satisfy your growing customer base. The need to purchase equipment is one that you’ve likely faced, but getting access to funds to pay for that equipment isn’t always easy. The distillery loan experts at Live Oak can provide fast and simple financing options that will get you the equipment you need to scale your production.

Whether you need to buy more barrels or invest in a new still, we have the expertise needed to provide you the best distillery equipment loan solutions that won’t disrupt your cash flow and will allow you to concentrate more on operating your business. Here’s what you can expect after connecting with one of our loan specialists:

Pre-approval

After your distillery equipment loan specialist connects with you, expect an email including application forms. Once your application is received, your loan request is typically pre-approved within one to two business days. During that time, we will run a preliminary cash flow analysis as well as a credit check as a part of our due diligence. You will then be issued a proposal letter by the loan officer if you’re pre-approved. This letter will include your loan rates, terms and all collateral requirements.

Underwriting

Once your proposal is signed and returned, your underwriter and credit officer will work together to obtain final loan approval. We know that every piece of distilling equipment is unique depending on the manufacturer, so, our team will help qualify all vendors prior to purchase. Underwriting takes one to two weeks on average. If approved, you will receive a commitment letter with your approval details.

Closing

After you have signed and returned your commitment letter, we will assign you a dedicated craft distillery loan closing specialist to help you through the final stage of your loan process. Closing takes approximately 30 days. Your closer understands the unique details of the industry and will work with you as quickly as possible to meet your deadlines.

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Connect with a Loan Specialist

WEBINAR: TAX REFORM FOR CRAFT BEVERAGE PRODUCERS

Join distillery loan officer Kate Lumpkin as she partners with Maria Pearman, Principal/CPA at Radix Accounting, to discuss the latest tax reform legislation and how it applies to your business.

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Knowledge Bank

After a successful track record of running your own craft distillery, seeking an expansion can be great way to increase production and profits. We’re here to help. Learn how we’ve helped others and get valuable resources.

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