Live Oak Bank Receives NCPA 2014 Corporate Recognition Award
Austin, Texas (October 19, 2014) —
Live Oak Bank
was honored today with the
National Community Pharmacists Association
(NCPA) 2014 Corporate Recognition Award. The award was given during NCPA’s 116
Annual Convention and Trade Exposition in Austin. This award recognizes a company for its support and work on behalf of independent community pharmacies.
Since announcing a collaboration with NCPA at the association’s convention in
, Live Oak Bank has become the largest lender to independent community pharmacies nationwide.
The growth in targeted pharmacy lending can be attributed to Live Oak Bank’s commitment and demonstrated expertise in community pharmacy, as well as navigating prospective owners down a path to pharmacy ownership. The ability to structure financing with minimal cash and seller participation encourages entrepreneurship and demonstrates Live Oak’s recognition of a pharmacy’s earning power, along with the value that the previous owner has built for many years. As a result, financing acquisitions, expansions, and new construction and refinancing existing debt is easily accessible, and in the spirit of achieving the “American Dream” of small business ownership.
“In a few short years Live Oak Bank has become the preeminent lender for independent community pharmacies because of its commitment to creating a level economic playing field for these small business health care providers,”
Mark Riley, PharmD, NCPA president,
executive vice president and CEO of the Arkansas Pharmacists Association,
and an independent pharmacy owner in Little Rock, Ark. “There is no more deserving recipient for the NCPA 2014 Corporate Recognition Award than Live Oak Bank. The difference it has made for countless pharmacy owners can’t be underestimated. We look forward to future financially empowered independent community pharmacies making their mark in the competitive marketplace.”
“Live Oak Bank is honored to receive this partnership recognition from NCPA,” said Jimmy Neil, general manager of pharmacy lending at Live Oak Bank. “We have enjoyed a strong partnership with NCPA, financing close to 500 pharmacies with nearly half a billion dollars.”
The National Community Pharmacists Association (NCPA®) represents the interests of America's community pharmacists, including the owners of nearly 23,000 independent community pharmacies. Together they represent an $88.8 billion health care marketplace, dispense nearly 40% of all retail prescriptions, and employ more than 300,000 individuals, including over 62,000 pharmacists. To learn more, go to
, or follow NCPA on Twitter
Live Oak Bank was founded in 2008 with one goal: provide business loans to independent businesspeople in niche industries. Today, Live Oak is one of the largest originators of small business loans with one of the strongest loan portfolios in the country. We have extensive experience lending to selected niche small businesses as a preferred Small Business Administration (SBA) lender.