DENVER, CO --(Marketwire - February 13, 2013) -
Advisorbox officially announces that Live Oak Bank has joined the Advisorbox family of firms. Live Oak Bank was founded in 2007. They provide business loans to five industries including Investment Advisory lending.
The Live Oak lending product offerings address key issues in the financial industry. Live Oak provides lending to RIAs, practice principals, and advisors for mergers and acquisitions, succession funding, expansion, operating capital, consolidate loans, start-up and commercial real estate lending and refinancing.
"Live Oak Bank is providing creative lending solutions to an underserviced M&A market. I'm delighted to welcome them to the Advisorbox family of firms," said David DeVoe, Managing Director at Advisorbox.
Although Live Oak is one of the largest originators of small business loans, their default rates remain one of the lowest in the nation.
The Live Oak Investment Advisory lending team is comprised of experienced and knowledgeable Investment Advisory industry experts. Steve Smits, General Manager, served a Presidential-appointed position as Associate Administrator for the Office of Capital Access at the U.S. Small Business Administration. Smits stated, "We've seen the need for lending solutions in this industry, and we are eager to provide capital access to advisors, so they can reach their goals."
"The fundamental lending philosophy within Live Oak aligns very well with a large segment of the industry. The focus on cash flow lending versus collateral requirements is well received among the advisor community," said Jason Carroll, Managing Director at Live Oak Bank.
Live Oak Bank offers creative loan features and pricing that advisors find favorable. Key features include up to 100% financing for M&A deal and transaction financing and loan consolidation; 25 years for real estate and 10 years for business loan purposes; fund loans up to $5,000,000; very competitive for business loan rates; and fast loan closings as little as 45 days.
Advisorbox is a national advisor solutions firm supporting individual advisors and providing supplemental advisor support for broker dealers and clearing firms. Advisorbox was started by a handful of leading advisor solution firms who believe combining resources within a family of firms and websites, and consolidating marketing efforts under the Advisorbox brand, will maximize the benefits each firm can provide advisors and financial firms.
The Advisorbox family of websites includes: Advisorbox.com, AdvisorboxExchange.com and is soon launching FindAdvisors.com. Advisorbox corporate offices are located in Denver and Breckenridge, Colorado.