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

Nieco Corp

Nieco automatic broilers.

Wapello Fabrications

Inflatables and portable amusements.

Soft Play

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

Adventure Golf

Miniature golf courses, consultants, architecture and design.

Formula K Raceways

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

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.

Aquaventronics

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

Lazer Runner

Laser Tag Systems

Extreme Engineering

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

Davis & Davis, Inc.

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

Belson Manufacturing Co.

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S&S Worldwide

Large Park amusement rides.

Deltronic Labs Inc.

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Comstock – Castle Stove

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Gould Manufacturing, Ltd.

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Empex Water Toys

Aquatons Water Toys

Kay Park Recreations Corp.

Picnic tables, grills, park benches, planters, trash containers and more.

European Body Arts

Airbrushed temporary tattoo products and systems.

Precision Dynamics (PDC)

Wristbands with no hidden costs, Radio Frequency Identification (RFID) Wristband System.

Hoffman Mint

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Broaster Co., The

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Flagship Carpet

Custom carpets and rugs.

Subway

Fresh food and sandwich options.

Embed

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Store on Wheels

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

Friedman Group Ins.

Insurance for amusement devices.

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.

Berk Paper & Supply

Concession supplies.

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Quik n’ Crispy greaseless fryer.

A\’maze Ventures, Inc.

Mazes for every location, new and used.

CFX Composite & Effects

Special effects make-up and prosthetics

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

Funovation

Laser maze challenge

Cost of Wisconson

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

Amusement Entertainment Management (AEM)

Premier entertainment consultants.

Hamilton Manufacturing Corp.

Manufacturer of unattended entry systems and change machines.

Sacoa

Designed and manufactures PlayCard, the rechargeable debit card system.

Wisdom Industries, Ltd.

Amusement ride manufacturer, new and used rides.

Fast Corp Vending

Frozen food vending machines

West Coast Netting, Inc.

Experienced netting manufacturer on the leading edge of innovation.

Xtreme Inflatables

Repair and service for all inflatable products.

Tokens Direct

A wide variety of tokens.

Klopp International, Inc. (Playmeter)

Quality coin counters and sorters.

Spectrum
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Funovation
Rebound Unlimted, Inc.
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