Understanding the Options for Financing Your Business Growth
In this episode of the Prime Partners Podcast, Brandon Bolen, Head of Service Contractor Lending at Live Oak Bank, shares how financing can help small business owners support their company’s growth and expansion.
Brandon discusses some of your options when it comes to applying for a loan, selling a business, buying a business, and much more. Be ready to capitalize on opportunities and stay a step ahead of your competitors by learning the options you have to finance your business growth!
Using Training to Enhance Dealer Growth and Loyalty Time Stamps:
- (00:48) – About Brandon and Live Oak Bank
- (04:42) – How financing can help contractors support their business growth
- (09:43) – Overview of SBA 7a loan
- (10:27) – SBA 7a loan vs conventional loan
- (14:53) – Importance of cash flow
- (16:19) – The process of preparing for a loan
- (19:51) – Merger and acquisition process
- (22:16) – Selling a business and succession plans
- (27:40) – How to contact Brandon
About Brandon Bolen
Brandon Bolen is the Head of the Service Contractor Lending team at Live Oak Bank, dedicated to businesses in the HVAC, plumbing, and electrical service industries. Brandon was included in The ACHR NEWS’ 40 under 40 in the HVAC industry in 2021.
Since April 2019, Live Oak’s Service Contractor team has provided over $160MM in financing to the home service industry. Brandon joined Live Oak in 2015 as a business advisor where he managed a portfolio of loans for existing customers. He then served as an underwriter and underwrote over $250,000,000 in SBA loans.
Time Zone: EST
About the Prime Partners Podcast
BDR’s Prime Partners podcast delivers insight on services, resources, and business practices that can help your company succeed – faster.
Listen to more podcast episodes from BDR HERE