AMERICAN ENTERPRISE AND LIVE OAK BANK ANNOUNCE STRATEGIC PARTNERSHIP
DES MOINES, Iowa – Live Oak Bank and American Enterprise Group, Inc., parent company of Great Western Insurance Company (GWIC®), announced today that the companies have entered into a strategic partnership that will provide funeral home and cemetery business owners access to $500,000 to $20 million and beyond in capital. Both Live Oak and American Enterprise are recognized as industry leaders who have long supported the funeral profession. This partnership brings a unique product to the market, well suited for business owners seeking financing for their acquisition and expansion plans.
“Live Oak Bank’s funeral home and cemetery team is excited about the lending partnership with American Enterprise,” said Tim Bridgers, Head of Funeral Home & Cemetery Lending at Live Oak. “The core of Live Oak Bank’s mission is treating every customer like the only customer by providing the best loan service and product offerings. All growth capital is not created equal, and we are pleased to offer this larger loan product backed by funeral-specific knowledge and experience to the funeral profession,” Bridgers said.
Live Oak has been focused on small business loans for the funeral profession since 2010 and provides an extensive wealth of industry and financial knowledge. Combined with American Enterprise’s almost 100 years of experience supporting the profession with preneed and insurance services, this partnership allows business owners to unlock larger loans than previously available.
“This partnership is an excellent complement to our current business lines and operational strategy when it comes to servicing customers in the funeral profession. It creates tremendous opportunities for both American Enterprise and Live Oak Bank to offer financing to funeral home businesses looking to build, buy, or expand their business,” said Dennis Case, Chief Sales Officer at American Enterprise.
About American Enterprise Group, Inc.
American Enterprise Group, Inc., has multiple insurance company subsidiaries under the American Republic®, Great Western Insurance Company (GWIC®), and Medico® brands, which are rated A (Excellent) by AM Best for financial strength. These companies offer life and health insurance product solutions to help people secure their financial futures through various distribution channels and are licensed in 49 states plus the District of Columbia. American Enterprise is based in Des Moines, Iowa, and employs over 400 people. For more information, visit www.americanenterprise.com.
About Live Oak Bank
Live Oak Bank, a subsidiary of Live Oak Bancshares, Inc. (Nasdaq: LOB), is a digitally focused, FDIC-insured bank serving customers across the country. Live Oak puts a groundbreaking spin on service and technology to redefine banking. Our products help customers buy, build, and expand their business, and high-yield savings and CD products to grow their hard-earned money. To learn more, visit www.liveoakbank.com.
