SBA 7(a) FUNERAL HOME FINANCING
The SBA 7(a) loan is a preferred financing option for businesses in the Funeral Home Industry due to its flexibility and favorable terms. Whether you're establishing a new funeral home, expanding your services, or upgrading your facilities, this program provides essential benefits tailored to support your business:
Longer Repayment Terms
The SBA 7(a) program offers extended repayment options, with terms up to 10 years for working capital, equipment, and other business uses, and up to 25 years for real estate purchases. Loans under 15 years can be prepaid anytime without penalties. For loans over 15 years, penalties apply for paying off more than 25% within the first three years: 5% in year one, 3% in year two, and 1% in year three. After three years, all loans are penalty-free.
Competitive Interest Rates
Save on financing with the competitive interest rates of SBA 7(a) loans. Thanks to a government-backed guarantee, we can deliver more affordable rates than typical business lenders.
Lower Down Payments
The government guaranty also enables small business owners to secure financing with lower down payments compared to traditional business loans, typically up to 20% of the total project cost but in some cases as low as 0%.
Flexible Use of Funds
The SBA 7(a) loan program is widely regarded as a top choice for small businesses due to its unmatched flexibility. Unlike many traditional loans that impose strict limitations, 7(a) loans empower businesses to meet a variety of financial needs, making them versatile for nearly any business purpose or stage of growth.
What Can SBA 7(a) Do for Your Funeral Home?
Our SBA 7(a) loans help funeral homes invest in the most critical areas of their business. Whether you're focused on upgrading facilities, enhancing services, or managing daily operations, we provide the capital you need to succeed.
Purchase a Funeral Home
Acquiring a funeral home with an SBA 7(a) loan offers a cost-effective way to invest in a trusted community service operation. With manageable down payments and extended loan terms, you can secure a business model that prioritizes dignified care while preserving capital for facility enhancements.
Build a Funeral Home
Constructing a funeral home from the ground up allows you to design a comforting and functional space tailored to the needs of the families you serve. An SBA 7(a) loan provides financing for land acquisition, construction, and essential facilities, helping you establish a lasting presence in your community.
Buyout a Partner
Buying out a partner in your funeral home using an SBA 7(a) loan lets you consolidate control and ensure continuity in your service. Flexible repayment terms help you structure the buyout in a way that maintains financial health and honors the integrity of the business.
Refinance High-Interest Debt
Refinancing high-interest debt with an SBA 7(a) loan can lower operating costs and provide greater financial flexibility. With government-backed funding offering improved loan terms, you can free up resources to further enhance your profitability.
Expand Your Funeral Home
Expanding your facility or service offerings can enhance your ability to support families during their most challenging moments. An SBA 7(a) loan provides the necessary financing to upgrade your services, add new facilities, or introduce technology that improves operations.
Solutions for Every Stage of Your Funeral Home's Growth
Whether you're starting your funeral home, expanding, or preparing for succession, our SBA 7(a) loans are designed to support your business at every stage.