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

Empex Water Toys

Aquatons Water Toys

Penny Press

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

Wells Fargo

Commercial insurance for inflatables and event planners.

Zebec Water Sports

Large variety of waterpark needs

Price Chopper, Inc. Wristbands

Admission, financial equipment and wristbands.

Davis & Davis, Inc.

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

Chestnut Identity Apparel

Uniform supply, embroidered apparel and flag manufacturing.

Wapello Fabrications

Inflatables and portable amusements.

Laser Star

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

Quik N\’ Crispy (QNC)

Quik n’ Crispy greaseless fryer.

Klopp International, Inc. (Playmeter)

Quality coin counters and sorters.

Gould Manufacturing, Ltd.

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

Formula K Raceways

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

Brunswick Bowling

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

A\’maze Ventures, Inc.

Mazes for every location, new and used.

CFX Composite & Effects

Special effects make-up and prosthetics

Birthday University

Concept development, training and birthday party touring seminars.

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.

American Changer

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

Barron Games

Redemption air hockey games.

Rio Syrup

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

Aquaventronics

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

Soft Play

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

Nieco Corp

Nieco automatic broilers.

Castle Golf, Inc.

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

R&R Creative Amusement Design

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

Sacoa

Designed and manufactures PlayCard, the rechargeable debit card system.

International Special Events (ISERA)

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

U.S. Bowling

Award-winning independent company brings bowling to your venue.

Ride Development Corp.

Electric floor, gas and battery-powered bumper cars.

Martin Professionals

A lighting supplier of choice for the entertainment industry.

Midway Concepts (Circus Tops)

Premier designers of stainless steel food service equipment.

Tarobots

Boxerjocks robotic boxing amusement ride game attraction.

Friedman Group Ins.

Insurance for amusement devices.

California Portable Dance Floor Company

Max Flight

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

Berk Paper & Supply

Concession supplies.

Enchanted Castle Studios

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

Money Tree – ATM

ATM machines.

Store on Wheels

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

Broaster Co., The

Food programs and food service equipment.

Wisdom Industries, Ltd.

Amusement ride manufacturer, new and used rides.

National Rock & Sculpture

Dedicated to the conceptual design and development of themed environments.

Art Attack

Theming, miniature golf, parade floats, 3D props, air-brushed murals, signage and art panels.

Poly Products

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

Comstock – Castle Stove

Commercial cooking equipment.

Rides-4-U, INC.

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

Weldon, Williams & Lick

Admission systems and wristband ticketing.

Perfect Fry

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

Spectrum
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Extreme Engineering
Funovation
Rebound Unlimted, Inc.
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