Product Financing News: A Letter from Ben Jones

January 1, 2014 No Comments

I am very excited writing this as the newest member of the executive team at Live Oak Bank where I am part of a small group of specialized lenders who are starting a new niche lending division that will focus specifically on providing financing for FECs, small parks and attractions.

As senior lender/FEC domain expert of Live Oak Bank’s FEC vertical, my role is to facilitate loan opportunities by assisting manufactures, suppliers, distributors and operators to identify needs and then working in concert with clients to formulate the financing avenues to meet those needs. As an industry peer and former operator, I am uniquely positioned and bring practitioner experience to the financing solutions we will offer FECs and related industries. The programs we have established encompass refinancing, acquisitions, new development, remodeling, equipment purchases and succession financing. With loan amounts of up to $5M, our terms and rates are competitive with fully amortizing maturities of up to 25 years without balloons, calls or crazy covenants. We are a cash flow lender with a focus on our client’s long-term health, prosperity and growth. If you have financing needs such as lowering existing loan payments to improve cash flow, making an equipment purchase or if you want to grow your business, we should connect.

Live Oak Bank started in 2008 with a singular goal to provide loans to small independent businesses whose markets and industries had been overlooked by traditional banks and institutions. Being overlooked or even mistreated by a vast majority of the banking world is a familiar cry from almost every FEC operator or professional. In the 27 years I have been involved in the amusement and FEC business, we have never had a national lender remotely interested, let alone committed to learning about the nuances of our business or lending money to our industry. Live Oak Bank’s approach and business model is working, as Live Oak is already the nation’s second largest originator of small business loans with clients all across the country.

It is inspiring to be part of an amazing company with great vision, a willingness to learn and where the opportunities to make a difference within an industry I love are endless. In the coming weeks and months, I will be reaching out to the FEC community with more details. In the interim, let me know how I can help: you, your business or our industry; I invite your inquiry and feedback.

(Ben Jones is a senior lender/FEC domain expert with Live Oak Bank. For more information, visit www.liveoakbank.com.)

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Sponsors

See Coast Manufacturing Co., Inc.

Coin-operated binoculars and telescopes.

Lakeshore Merchandise (Smart Vending)

Premier vending supply for all of your vending equipment and supply needs.

Muncie Novelty Co., Inc.

Admissions, financial equipment, printing and tickets.

Subway

Fresh food and sandwich options.

Extreme Engineering

Industry leader in zip lines, climbing walls, jumper systems and adventure products.

Castle Golf, Inc.

Planning, design and construction of miniature golf courses and family fun parks.

Xtreme Inflatables

Repair and service for all inflatable products.

Belson Manufacturing Co.

Park and recreation outdoor furniture and equipment.

International Special Events (ISERA)

Risk purchasing group, a better way to purchase liability insurance, specializing in inflatables and much more.

Store on Wheels

Importer and distributor of quality toys, lighting and novelties. Cater to the amusement, retail and entertainment industries.

Laser Star

Laser shooting galleries, laser tag, dark ride target systems, overhead target ranges.

Lil Orbits Inc.

Food equipment, donut machines and vendor carts.

Tube Pro

Waterpark tubes.

Hoffman Mint

Tokens, medals, coins and key tags.

Rides-4-U, INC.

New and used rides, kiddie, family, major and thrill.

Namco

Namco America is a premier manufacturer of coin-op arcade attractions, ranging from the hottest titles like Crazy Typhoon and Jumpin’ Jackpot to classic game-room experiences such as the Pac-Man 25th Anniversary upright that features Pac-Man, Ms. Pac-Man and Galaga. Specialized pieces such as Wonka Sweetland and Flamin Finger are favorites too! For arcade gaming fun, Namco America is your answer.

Poly Products

Tables, benches and related products. Green products for a green world.

Friedman Group Ins.

Insurance for amusement devices.

Weldon, Williams & Lick

Admission systems and wristband ticketing.

S&S Worldwide

Large Park amusement rides.

Soft Play

Leader in designing, manufacturing and installing soft contained playground equipment.

Brunswick Bowling

Entertainment bowling center developer and manufacturer of bowling equipment and entertainment products.

Challenger Industries

Sports surfaces, carpets and mini-golf surfaces.

Martin Professionals

A lighting supplier of choice for the entertainment industry.

Price Chopper, Inc. Wristbands

Admission, financial equipment and wristbands.

Beckman Insurance Agency

Amusement attractions insurance.

Wapello Fabrications

Inflatables and portable amusements.

Chestnut Identity Apparel

Uniform supply, embroidered apparel and flag manufacturing.

Money Tree - ATM

ATM machines.

Deltronic Labs Inc.

Ticket dispensers.

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Concept development, training and birthday party touring seminars.

Wisdom Industries, Ltd.

Amusement ride manufacturer, new and used rides.

Family Fun Corp.

Waterpark walls for rivers, bumper boat and splash down pools.

Rio Syrup

Over 250 flavors, syrups and concentrates for shaved ice, sno cones, shushes, food colors. Now featuring Hawaiian Flower Cups.

Zebec Water Sports

Large variety of waterpark needs

Water Wars (T&D Enterprises of Brainerd)

Water Wars water balloon game, portable or startionary.

Gerber Manufacturing, Ltd.

Outdoor furniture, benches, picnic tables and grills.

Max Flight

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Comstock - Castle Stove

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Spectrum Sports

Climbing walls, ropes courses, go-karts and more.

Adventure Glass

Unique paddleboats.

Splashtacular

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Mahoning Valley Mfg.

A complete line of Imperial strollers, wagons and safari utility vehicles.

A'maze Ventures, Inc.

Mazes for every location, new and used.

Sippers By Design

Design and manufacture of specialty custom-shaped drink containers.

Perfect Fry

Innovative and simple-to-operate countertop deep fryer Perfect Fryers.

Center Edge Software

Facility Management Software Solutions

R&R Creative Amusement Design

Designers of unique themed parks, attractions and environments for the entertainment business.

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