Raising Money for Funeral Homes and Funeral Services

With these bank loans for funeral homes and funeral services, the SBA guarantees the lender that the loan will be repaid. This funeral homes and funeral services loan for $505,000 was given to a Connecticut entrepreneur in 2005.

This small firm knew how to go about getting a business bank loan. Based in New Haven, Connecticut, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Newalliance Bank, based in New Haven, Connecticut.

SBA Loan Borrower

COMPANY TYPE: FUNERAL HOMES AND FUNERAL SERVICES
NEW HAVEN, CT 06511

SBA Loan Lender

NEWALLIANCE BANK
195 CHURCH ST
NEW HAVEN, CT 06510

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812210 - Funeral Homes and Funeral Services

Loan Approval Date

11/4/2005

Loan Approval Gross Amount

$505,000

Loan Approval from the SBA

Of the total $505,000 loan amount, the SBA guaranteed $378,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The loan application indicated that the loan would help retain 6 existing jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Business Credit Evaluation

Small Business Banks in New Haven, Connecticut

SBA Participating Banks in Connecticut