Plan a Successful Business Transition
Build | Prepare | Execute
With more than 100 years of experience, our One Solution approach helps you navigate challenges and take advantage of every opportunity. Whatever your purchase or sale needs, you can count on us to provide the resources and expertise to help you plan confidently – for today and the future.
Ask Yourself
Do I have a written succession plan for my business?
Have I identified a successor?
Is my business financially sound enough to generate market interest?
Am I prepared for retirement?
Our local experts are ready to help you navigate you business succession planning journey.
First National Customer Success Stories
No matter your strategy, First National is ready to help.
Strategic Sales or Acquisitions
Strengthen your competitive position and enter new markets.
“I tell industry partners and vendors: If you do business with me in California, you do business with me in Alaska, too. We’re going to give people more benefits than they had before and more opportunities to grow than before. That’s what’s great about working with a local bank like First National; they understand Alaska, and the need and opportunities for growth.”
—Dr. To
Dr. William To became Lifetime Eyecare’s third owner when he bought the business in 2021.
Employee or Business Partner Purchases
Your employees’ experience and expertise will help continue to run the business after you retire.
“We promised George we’d continue to do things the way he wanted. Now, in our 70th year, we’re honored to be one of six restaurants nationwide selected for the James Beard Award! First National was extremely helpful in regards to setting up our escrow accounts, our payment plan and our mortgage.”
—Heidi Heinrich and Carolina Stacey
When Lucky Wishbone’s founder, George Brown, passed in 2018, employees Carolina Stacey (left), Patricia Brown-Heller (middle), who is also his daughter, and Heidi Heinrich (right) assumed ownership of the business.
Family Transition Planning
Set your family up for success when you pass on your legacy.
“Grandpa came up in the ’30s and homesteaded just over the mountains on Lake Iliamna. Our family has been in the area ever since. Now Heidi and I have taken over the reins and kept the family business moving forward. Partners like First National are priceless. They do their job well and make our tasks more efficient as we look to shape our future into something more sustainable.”
—Lyle and Heidi Wilder
Lyle’s parents passed their family business, Lake and Peninsula Airlines, to their son and his wife, Lyle (second from right) and Heidi Wilder (right), in 2016.
Solutions to help you buy or sell a business
No matter your strategy, First National is ready to help.
Custom
Financing
Buyers often need to secure a commercial loan to purchase a business and maintain sufficient working capital for operations after an acquisition. Considering lending options is a crucial part of buying or selling a business.3
- Term Loan
- Equipment loan
- SBA 7(a) Loan
- Real Estate Loan
Wealth Management and Trust Services1
Whether buying your first business, transitioning your business to the next generation, selling to a third party or merging with another company, it is imperative to keep your business and personal financial planning and investment strategies top of mind. By structuring your business for optimal value transfer, you help maximize wealth generation for the business, yourself, and your heirs.
- Develop a comprehensive succession plan that aligns with your personal and business goals.
- Establish a financial plan to help maximize the growth potential of your assets.
- Strategize how to optimize your business value before and during the sale.
- Create an estate and trust strategy.
Escrow Services for a Private Sale or Purchase2
Escrow services facilitate owner-seller financing by helping the seller and buyer to create a private agreement to transfer ownership of a business. The two parties determine the financing terms, including the interest rate, loan amount, and repayment schedule. Escrow serves as a neutral third-party to formalize an agreement, ensuring transparency and security.
- Ensure the buyer and seller meet established requirements before releasing funds or assets.
- Monitor complex, multi-year transactions, ensuring obligations are met before the sale is finalized.
- Disburse funds and track repayments.
- Safekeep documents, negotiable items or deposited funds.
We’re Here to Help
Start planning your business succession planning today.
Disclosures
- * Investment products are not insured by the FDIC; are not deposits; and may lose value.
- **Escrow accounts are not deposit accounts and are not FDIC-insured.
- All loans subject to approval. Terms, conditions, and some restrictions apply.