Where to Get Capital for Funeral Homes and Funeral Services
Looking for small business loans for funeral homes and funeral services? Talk to a banker who works with the SBA. This $805,600 funeral homes and funeral services loan was issued by a Texas bank.
This small firm knew how to go about getting a business bank loan. Based in Marathon, Florida, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Comerica Bank, based in Houston, Texas.
SBA Loan Borrower
COMPANY TYPE: FUNERAL SERVICE AND CREMATORIES
MARATHON, FL 33050
SBA Loan Lender
COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
7261 - Funeral Service and Crematories
NAICS Code
812210 - Funeral Homes and Funeral Services
Loan Approval Date
7/7/2000
Loan Approval Gross Amount
$805,600
Loan Approval from the SBA
Of the total $805,600 loan amount, the SBA guaranteed $604,200.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 2 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.
Getting an SBA Loan For Your Business
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
About This SBA Loan Information:
All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.
Related Links:
504 Loans
SBA Participating Banks in Houston, Texas
SBA Lenders in Texas