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Self-Funded
Search fund Resources
Live Oak’s search fund lending team is solely focused on helping self-funded search funders access capital to acquire businesses. With over three decades of experience and industry connections, Live Oak Bank’s Search Fund lending team understands the challenges that searchers face. We are dedicated to helping search funders through education and financing and have created a robust set of resources to help along the way. Download our free resources now:
Search Fund SBA
Financing FAQ
We have created a robust set of resources for searchers, including this FAQ with over fifty of the questions we get most from searchers.
15 Time Killers in
SMB Search
Through our years of experience, we have seen trends in what is likely to eat up your very precious time in a search and potentially kill a deal.
Equity in SBA Loans
How does it work when you have minority equity investors in your SBA loan and what is allowed? What are the SBA guardrails? Do any new SBA SOPs impact investors' thinking about providing gap equity? What are the legal implications, and where does your attorney come into play? Our panel walks through these critical topics and more.
Searcher to
CEO Guide
Industry experts from the search fund lending community share their insights and experience around transitioning from searcher to CEO.
Partial Change of Ownership Overview
With the SBA Partial Change of Ownership Program, loan proceeds can fund a partial ownership change of an existing business with a 10-year SBA 7(a) loan with as little as no money down. Check out this overview for key details and examples of how the program can be used.
Voice of the Customer
The Voice of the Customer study, powered by Barlow Research Associates, delivers customer sentiment insights, industry benchmarks and candid advice to help small business owners define challenges and opportunities. The reports are based on survey results from Live Oak Bank loan and deposit customers and incorporate actionable feedback from peers.
SEARCH FUND RESOURCE VIDEOS
Check out our search fund videos for in-depth interviews with searchers, CEOs and search fund experts.
WEEKLY OFFICE HOURS EVERY WEDNESDAY
This weekly meeting is for self-funded searchers. We will walk you through the entire financing process and explain how we pre-screen deals prior to LOI. You will also be able to ask questions and benefit from hearing the questions of other searchers.
VETERAN RESOURCES
Check out our resources tailored specifically to veterans interested in entrepreneurship through acquisition.
2nd Annual Veteran Entrepreneurship Through Acquisition Symposium
The 2nd annual Veteran Entrepreneurship Through Acquisition (VetsETA'23) symposium to bridge America’s Veterans to small business ownership. VetsETA'23 featured successful veteran sellers and buyers, highlighted war stories and lessons learned; discussed available financing sources; the challenges of accessing that capital; policy plans to boost capital access and grow a national network.
The Silver Tsunami Provides Ample Opportunity For Veterans
The Silver Tsunami has created untapped potential for America’s veterans to own a business.
A Primer on Veteran ETA: What Veterans Need To Know About Entrepreneurship Through Acquisition
There is a solid path to veteran business ownership using entrepreneurship through acquisition (ETA) or search fund approach. Here's what you need to know.
Watch Now: Veteran CEO Interview
In this session of our CEO series, our customer, James Maxwell, shares how his military experience prepared him for ownership and the skills that make veterans successful business owners.
Want more educational content? Check out Live Oak Bank’s Resource Center.
Contact Team
Lisa Forrest
Head of Search Fund Lending
Lisa Forrest is a seasoned banking professional with over 35 years of experience, currently serving as the Head of Live Oak Bank’s Searchfund Lending vertical. Renowned for her expertise in SBA and Conventional lending products tailored to the unique needs of SMBs in the lower middle market, she specializes in guiding searchers and SMB acquirers through transactions of up to $25M in enterprise value. Widely recognized as a national go-to resource for her proficiency in SBA LMM M&A deal structuring, Lisa previously held key Sales Management/Business Development roles at Banc of California, Union Bank, Fortune Bank, and played a pivotal role in establishing Wells Fargo's SBA sales presence in the Pacific Northwest/Alaska. Her diverse experience includes serving as the COO for The Money Store/First Union.
Lisa, a graduate with a BS in Finance and Economics and an MBA from California State University, Sacramento, is a sought-after speaker and panel moderator at EtA conferences. She is also a frequent guest on search/SMB industry podcasts and other M&A/EtA association events. Lisa is dedicated to mentoring the SMB/search community and brings her passion for golf, outdoor activities, and love for dogs into both her professional and personal pursuits.
Sarah Andrews, CPA
Senior Lending Officer, Search Fund Lending
Sarah Andrews is a Senior Loan Analyst at Live Oak Bank, the nation's #1 SBA lender, and has over 12 years of SBA lending expertise. She plays a pivotal role in the Search Fund vertical, where her expertise guides strategic decision-making and financial analysis. She is a dynamic and accomplished financial professional with a proven track record in the world of M&A SBA financing. Holding a Masters degree in Accounting and an NC CPA license, Sarah possesses a deep understanding of intricate financial landscapes. With over a decade of experience, Sarah is not just a numbers expert, but a strategic thinker who thrives in finding complex financing solutions. Her insights and meticulous approach have led to impactful outcomes helping entrepreneurs become owner operations of small businesses across the nation.