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In this episode of “Accelerated HVAC Success,” Dillon Caraway, a loan office with Live Oak Bank, introduces us to the unique aspects of the company. Live Oak Bank understands the challenges and opportunities within this sector and provides tailored financial solutions to help HVAC contractors thrive. Growth financing is a key aspect of their approach, offering funding to support business expansion, equipment upgrades, and increased working capital, while Transition financing is another vital service, aiding contractors in smoothly navigating ownership changes or succession planning. Live Oak Bank’s personalized approach builds a strong foundation for lasting partnerships, emphasizing the importance of the bank's commitment to understanding the unique needs of HVAC businesses.
Live Oak Bank goes beyond traditional financing options, offering additional avenues for business owners seeking to transition. The Small Business Administration (SBA) program is a notable feature, providing accessible and favorable terms for those looking to sell or pass on their HVAC businesses. Caraway underscores the significance of personal relationships in this process, showcasing how Live Oak Bank values understanding the aspirations and challenges of each client. Through a combination of industry expertise, growth financing, transition support, and a focus on personal relationships, Live Oak Bank stands as a reliable partner in accelerating success for HVAC contractors.