Wilmington, NC – Live Oak Bank is excited to announce a new lending division offering financing to the Wine and Craft Beverages industry. After extensive industry research, Live Oak assembled a team of lenders and industry experts to address the need for financing to wineries, vineyards, breweries, distilleries and ancillary businesses in this space. Live Oak can provide funding for acquisitions, successions, partner buy-ins/outs, expansions, operating capital, refinances, loan payoffs and real estate.
The Craft Beverages industry, in particular the wine segment, is banked by an established, industry-specific financial community, but most existing lenders utilize conservative guidelines in their approach to credit. Live Oak Bank plans to fill a financing gap for those established in the industry that have strong cash flow, but lack appropriate collateral to secure loans with conventional lenders.
“The Wine and Craft Beverages industry is in growth mode, and we’re excited to enable that growth through financing,” said Kay Anderson, General Manager of Emerging Markets at Live Oak Bank. “We will focus on strategic partnerships within the industry and the knowledge of our senior lending team to quickly gain momentum,” Anderson stated.
“I’m thrilled Live Oak is stepping into this space. Having been in the industry for over 20 years, I’ve seen the growth in the demand for lending,” said Jeff Clark, Domain Expert for the Wine and Craft Beverages segment at Live Oak. “Live Oak’s loan structure, cash flow credit orientation, speed and service differentiate us from other lenders in the space, and position us to meet that demand.”
The Live Oak team has extensive lending experience and industry knowledge, enabling them to structure loans designed to meet the unique opportunities facing the Craft Beverages 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 a leader in financing this space.
About Live Oak Bank:
Live Oak Bank was founded in 2008 to provide small business loans to professionals across the country 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 not only into other healthcare-related industries, but into specialty areas as well. Having such a keen industry focus and trade specialists on board enables the bank to offer an exceptional level of service to the client. To learn more about Live Oak Bank, please visit www.liveoakbank.com.