Live Oak Bank

B.R. Distilling Company Secures Asset-Backed Line of Credit from Live Oak Bank

Retrieved on: 
Monday, March 18, 2024
Retail, Specialty, Wine & Spirits, Life, Ageing, Multimedia, Growth, Live Oak Bank, Small business, Financial services

Distilling Company , the creator of the award-winning Blue Note Bourbon ™, has secured an asset-backed line of credit from Live Oak Bank , providing the company with working capital to finance its inventory purchases under its long-term production agreement with Green River Distilling Company, the 10th oldest distillery in Kentucky.

Key Points: 
  • Distilling Company , the creator of the award-winning Blue Note Bourbon ™, has secured an asset-backed line of credit from Live Oak Bank , providing the company with working capital to finance its inventory purchases under its long-term production agreement with Green River Distilling Company, the 10th oldest distillery in Kentucky.
  • The transaction also frees up the company’s other capital for sales and marketing support to fuel the growing brand.
  • Distilling Company, the creator of the award-winning Blue Note Bourbon™, has secured an asset-backed line of credit from Live Oak Bank, providing the company with working capital to finance its inventory purchases under its long-term production agreement with Green River Distilling Company, the 10th oldest distillery in Kentucky.
  • Distilling Company to further the company’s growth and support their business needs as they expand their operations,” said Jeff Clark, Vice President of Wine and Craft Beverage lending at Live Oak Bank.

SBA Launches Enhanced Lender Match Platform

Retrieved on: 
Monday, March 4, 2024
National Association, Small business, CDFI, Live Oak Bank, SBA, Partnership

“Enhancing the SBA’s Lender Match tool is just one part of our unprecedented reforms to increase and streamline equitable access to affordable capital so small business owners can continue to innovate, create jobs, and be part of this Administration’s historic Investments in America.”

Key Points: 
  • “Enhancing the SBA’s Lender Match tool is just one part of our unprecedented reforms to increase and streamline equitable access to affordable capital so small business owners can continue to innovate, create jobs, and be part of this Administration’s historic Investments in America.”
    On the enhanced Lender Match platform, small business owners benefit from an improved, mobile-first user interface that ensures better access and usability.
  • Every month, the SBA receives about 50,000 requests for capital through Lender Match.
  • The SBA’s enhanced Lender Match will build on this foundation to make more connections for entrepreneurs seeking capital.
  • "The African American Alliance of CDFI CEOs supports the launch of the SBA’s enhanced Lender Match.

Castellum, Inc. Announces Closing of $4 Million Revolver with Live Oak Bank

Retrieved on: 
Friday, February 23, 2024
CTM, Security (finance), Live Oak Bank, Federation, Trust, BCR

BETHESDA, Md., Feb. 23, 2024 (GLOBE NEWSWIRE) -- Castellum, Inc. (NYSE-American: CTM), a cybersecurity and software services company focused on the federal government, announces that it has closed its previously announced $4 million financing with Live Oak Bank .

Key Points: 
  • BETHESDA, Md., Feb. 23, 2024 (GLOBE NEWSWIRE) -- Castellum, Inc. (NYSE-American: CTM), a cybersecurity and software services company focused on the federal government, announces that it has closed its previously announced $4 million financing with Live Oak Bank .
  • Castellum, Inc. ("Castellum") now has a $4 million revolving credit facility secured by cash, receivables, and the Company's other assets.
  • As part of the transaction, Castellum rolled over approximately $625,000 drawn down on its existing revolver with Live Oak Bank, paid down $400,000 owed to Robert Eisiminger, and paid down approximately $809,000 owed to the Buckhout Charitable Remainder Trust (the "BCR Trust").
  • "As we continue to amortize our existing term loan with Live Oak Bank, our debt/cash operating profit ratio keeps improving, and we position ourselves for a much brighter future.

Live Oak Ventures Participates in Financing of Anatomy Financial

Retrieved on: 
Wednesday, February 14, 2024
Small business, Practice management, Live Oak Bank, Health care, Oak, Health

WILMINGTON, N.C., Feb. 14, 2024 (GLOBE NEWSWIRE) -- Live Oak Ventures, the investment arm of Live Oak Bancshares, Inc., has announced an investment in Anatomy Financial, an AI-powered financial automation solution for medical, dental, digital health, and healthcare billing companies.

Key Points: 
  • WILMINGTON, N.C., Feb. 14, 2024 (GLOBE NEWSWIRE) -- Live Oak Ventures, the investment arm of Live Oak Bancshares, Inc., has announced an investment in Anatomy Financial, an AI-powered financial automation solution for medical, dental, digital health, and healthcare billing companies.
  • “Live Oak is excited to invest in companies such as Anatomy Financial that solve hard problems for small business owners,” said Stephanie Mann, Live Oak Bank Chief Strategy Officer.
  • At Anatomy, we're excited to bring modern fintech and AI to automate financial workflows and allow providers to focus on quality patient care," said Callum King.
  • "Live Oak has an excellent track record of supporting healthcare businesses across the country and deeply understands their needs.

X-Caliber Rural Capital Appoints Anna West President

Retrieved on: 
Tuesday, January 9, 2024
Professional Services, Finance, USDA Rural Development, Live Oak Bank, Multimedia, Knowledge, Business administration, University, Business, USDA, Energy, Food industry

X-Caliber Rural Capital , an affiliate of X-Caliber Holdings and a U.S. Department of Agriculture (USDA)-licensed lender for rural business and economic development projects, today announced it has appointed Anna West President of the USDA lending firm.

Key Points: 
  • X-Caliber Rural Capital , an affiliate of X-Caliber Holdings and a U.S. Department of Agriculture (USDA)-licensed lender for rural business and economic development projects, today announced it has appointed Anna West President of the USDA lending firm.
  • She has more than 15 years of experience with extensive knowledge in facilitating all the USDA’s available rural development programs.
  • “Anna has been instrumental in helping develop and strategically grow our platform,” said X-Caliber Rural Capital’s Co-Founder Jordan Blanchard.
  • West received a Bachelor of Science degree in Accounting and a Master of Business Administration from the University of Tennessee, Chattanooga.

Stiegler EdTech Announces Grant from Live Oak Bank to Expand its Newly Launched Varsity Esports & STEM League to Eastern NC

Retrieved on: 
Tuesday, January 9, 2024
Student, Learning, Live Oak Bank, STEM, Responsibility, Partnership, School, Varsity, Charlotte City Council, Workforce, Education

WILMINGTON, N.C., Jan. 9, 2024 /PRNewswire/ -- Stiegler EdTech announced today that its latest Charlotte-based technology workforce program Varsity Esports & STEM League (VESL) is expanding to Eastern NC thanks to the leadership and continued support of Live Oak Bank and its philanthropic commitment to education and workforce development.

Key Points: 
  • WILMINGTON, N.C., Jan. 9, 2024 /PRNewswire/ -- Stiegler EdTech announced today that its latest Charlotte-based technology workforce program Varsity Esports & STEM League (VESL) is expanding to Eastern NC thanks to the leadership and continued support of Live Oak Bank and its philanthropic commitment to education and workforce development.
  • "We are thrilled to support the continued expansion of VESL across North Carolina," said Kate Groat, Live Oak Bank's Director of Corporate Philanthropy.
  • VESL aims to teach valuable coding and technology skills to meet the talent needs of the tech industry in North Carolina.
  • "Live Oak Bank's commitment to the region through programs like VESL is an exciting investment in the next generation of tech talent in Eastern NC."

Newtek Bank, N.A. Hires Chief Operating Officer of Digital Banking Operations

Retrieved on: 
Tuesday, November 28, 2023
Live Oak Bank, Software, Jennifer, Marketing, Acquisition, Business administration, First Bank, Lead, Wells Fargo, University, BOCA, NEWT, NewTek, Cryptocurrency

BOCA RATON, Fla., Nov. 28, 2023 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (the “Company”) (NASDAQ: NEWT), today announced that its bank subsidiary, Newtek Bank, N.A., has hired Ms. Jennifer Merritt as Chief Operating Officer of digital banking operations, effective November 27, 2023.

Key Points: 
  • BOCA RATON, Fla., Nov. 28, 2023 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (the “Company”) (NASDAQ: NEWT), today announced that its bank subsidiary, Newtek Bank, N.A., has hired Ms. Jennifer Merritt as Chief Operating Officer of digital banking operations, effective November 27, 2023.
  • Ms. Merritt comes to Newtek Bank with over a decade of banking experience with specific focuses on digital banking and banking-product development.
  • In addition, she was a business leader and subject-matter expert for the building of an integrated digital online banking platform with digital account opening and online banking solutions and software.
  • Barry Sloane, Chairman, President and Chief Executive Officer said, “We couldn’t be more pleased to announce the acquisition of Jennifer Merritt’s talents for the role of Chief Operating Officer of digital banking operations at Newtek Bank.

On.Energy Closes $40 Million of Construction and Permanent Financing to Build Palo Verde Battery Storage Portfolio in Texas

Retrieved on: 
Wednesday, December 20, 2023
Oil, Gas, Alternative Energy, State, Local, Energy, Green Technology, Sustainability, Technology, Finance, Professional Services, Batteries, Environment, Public Policy, Government, Other Technology, Other Energy, Utilities, Kilowatt-hour, Live Oak Bank, Independent power producer, Inflation, IPP, ESS, Electricity, ERCOT, Investment, Carbon, CAISO, ITC, Renewable energy

On.Energy , a proven end-to-end integrator of battery energy storage and Independent Power Producer (IPP), today announced it has closed both construction facility totaling more than $40 million and permanent debt facilities for an 80 megawatt-hour (MWh) portfolio in Texas (the Palo Verde Projects) with financing provided by Live Oak Bank.

Key Points: 
  • On.Energy , a proven end-to-end integrator of battery energy storage and Independent Power Producer (IPP), today announced it has closed both construction facility totaling more than $40 million and permanent debt facilities for an 80 megawatt-hour (MWh) portfolio in Texas (the Palo Verde Projects) with financing provided by Live Oak Bank.
  • This project also integrates an investment tax credit (ITC) transfer – among the first of its kind for merchant battery storage projects.
  • The portfolio includes both greenfield development sites as well as projects acquired through M&A in mid-2023.
  • On.Energy President of North America Salvatore Minopoli added, “We are honored and excited to be working with Live Oak Bank.

Live Oak Bancshares Announces Executive Appointments, Including Walter J. Phifer Named as Chief Financial Officer

Retrieved on: 
Tuesday, November 14, 2023
Accounting, Economics, Holy Cross, Organization, College, CFO, Underwood, Treasury, Certified Public Accountant, Culture, Live Oak Bank, Deposit (finance), Barclays, Certification, Management, Boston

WILMINGTON, N.C., Nov. 14, 2023 (GLOBE NEWSWIRE) -- Live Oak Bancshares announced today that its Board of Directors has made several organizational appointments including naming a new Chief Financial Officer and President of Live Oak Bancshares.

Key Points: 
  • WILMINGTON, N.C., Nov. 14, 2023 (GLOBE NEWSWIRE) -- Live Oak Bancshares announced today that its Board of Directors has made several organizational appointments including naming a new Chief Financial Officer and President of Live Oak Bancshares.
  • William C. (BJ) Losch III, who has been serving as both President of Live Oak Bank and CFO, will add the additional role of President of Live Oak Bancshares effective today and will step down as CFO at the end of this year.
  • To fill that role, the board announced Walter J. Phifer as CFO of Live Oak Bancshares and Live Oak Bank effective January 1, 2024.
  • “Walt is poised to lead Live Oak’s financial future and his leadership has been felt here for many years,” said Live Oak Chairman and CEO James S. (Chip) Mahan III.

Introducing The Corbett Hub: A No Subscription Fee MLS for Commercial Real Estate and Business Brokers

Retrieved on: 
Wednesday, December 6, 2023
Sale, Conway Commercial Historic District, Multimedia, Business, MLS, Live Oak Bank, Hub, Commercial property, SBA, Business valuation, Real estate

As an invitation-only network, the Corbett Hub connects elite brokers and industry leaders, setting a new benchmark in the field.

Key Points: 
  • As an invitation-only network, the Corbett Hub connects elite brokers and industry leaders, setting a new benchmark in the field.
  • Notable members include Todd Smith ( Corbett Restaurant Group ), Bob Flynn ( United Brokers Group ), Marty Bloom, James Conway ( Conway Commercial ), Chris DiGuiseppe ( Realty Partners Northeast ), and Joe Levanto ( CRE Brokerage ).
  • Elite Network: Connect with a vetted network of Commercial Real Estate & Business Brokers.
  • Business Valuations: Expert third-party business valuations and appraisals, including Broker Opinion of Value and Business Appraisals authored by credentialed experts.