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.)

Back

Sorry, the comment form is closed at this time.

Sponsors

Qubica

Sells capital equipment to bowling centers.

Sureshot Redemption

One-stop source for prize redemption counters at entertainment centers.

Family Fun Corp.

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

Ride Development Corp.

Electric floor, gas and battery-powered bumper cars.

Omega Carpets

Printed carpeting for all your facility needs.

Aquaventronics

Research and development of interactive water games for use in the commercial amusement industry.

Wapello Fabrications

Inflatables and portable amusements.

Formula K Raceways

Go-karts, kiddie cars and bumper boats, go-kart parts and tires.

Davis & Davis, Inc.

Planning consultants for wet/dry attractions, mini-golf, go-kart tracks and laser arenas.

Wisdom Industries, Ltd.

Amusement ride manufacturer, new and used rides.

International Special Events (ISERA)

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

Penny Press

Penny souvenir machine, great for parks, FECs, bowling and skating centers, museums and tourist attractions.

Bulbtronics

A premier source for lamps, LEDs, batteries and lighting-related and electrical products.

Sacoa

Designed and manufactures PlayCard, the rechargeable debit card system.

CFX Composite & Effects

Special effects make-up and prosthetics

Flagship Carpet

Custom carpets and rugs.

Lakeshore Merchandise (Smart Vending)

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

American Changer

Bill and coin dispensers and counters, ticket machines and more.

Jane Farrell Turf and Carpets, Inc.

Commercial carpet, printed and decorative patterns, loop and cut-pile construction. Wall coverings in fluorescents, Class A fire rated. Colored turf, both traditional and neon colors.

Tarobots

Boxerjocks robotic boxing amusement ride game attraction.

Embed

Provides innovative IT products and services with a primary focus on card-based solutions and database applications for the leisure and retail industries.

Master Pitching Machine

Batting cages and pitching machines.

Fast Corp Vending

Frozen food vending machines

Weldon, Williams & Lick

Admission systems and wristband ticketing.

Action Lighting Co.

Lighting supplies.

Brunswick Bowling

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

Water Wars (T&D Enterprises of Brainerd)

Water Wars water balloon game, portable or startionary.

Amusement Entertainment Management (AEM)

Premier entertainment consultants.

Comstock - Castle Stove

Commercial cooking equipment.

S&S Worldwide

Large Park amusement rides.

Subway

Fresh food and sandwich options.

Gerber Manufacturing, Ltd.

Outdoor furniture, benches, picnic tables and grills.

Gould Manufacturing, Ltd.

Concession trailers and Antique, Jeep and Grand Prix auto rides.

Rides-4-U, INC.

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

Enchanted Castle Studios

Fiberglass statuary and figures for restaurants, mini-golf, theme parks and other attractions.

GloCones

Flashing cotton candy cones.

R&R Creative Amusement Design

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

Knight Equipment

Drive cables for ferris wheels, Tilt-A-Whirls, Rock-O-Planes and many others.

Poly Products

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

Adventure Golf

Miniature golf courses, consultants, architecture and design.

Broaster Co., The

Food programs and food service equipment.

Rio Syrup

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

Sippers By Design

Design and manufacture of specialty custom-shaped drink containers.

Perfect Fry

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

Wells Fargo

Commercial insurance for inflatables and event planners.

Max Flight

Manufactures interactive virtual reality motion-platform game systems including networkable flight and roller coaster simulators.

Adventure Glass

Unique paddleboats.

Cost of Wisconson

Creators of simulated environments, duplicate structures, sculpted figures, exhibits, water features, mini-golf and more.

Hamilton Manufacturing Corp.

Manufacturer of unattended entry systems and change machines.

Spectrum
LMap Powered by Silvercrest
Premier Polysteel
Spectrum Sports
Cannonball Blaster
Funovation