In this episode of the Prime Partners Podcast, Jordan Cordero of Live Oak Bank shares the importance of strategic succession planning for small business owners and how leveraging business loan options can facilitate the smooth transfer of business ownership.

The conversation highlights key insights into how proper financial planning and understanding different loan structures can significantly broaden potential buyer pools, making the transition more manageable for sellers and buyers. Whether you’re currently contemplating the future sale of your business or just want to be prepared for when the day arrives, learn how staying on top of business loan options can position you to one day make a smooth exit from your business.

Time Stamps

• 00:00 - Introduction
• 03:16 - The importance of succession planning
• 09:00 - The economic impact on succession planning
• 11:35 - Pain points in obtaining business loans
• 25:05 - What sets Live Oak Bank apart?
• 32:31 - The first step in proactive succession planning
• 35:14 - Closing remarks