Financing for Funeral Homes and Funeral Services

Looking for commercial loans for funeral homes and funeral services? An SBA loan may be just what you've been looking for. This $65,000 funeral homes and funeral services loan was issued by a New Jersey bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sayreville, New Jersey was able to borrow $65,000 from Amboy Bank. The SBA made the loan possible by guaranteeing $48,750 of this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: FUNERAL SERVICE AND CREMATORIES
SAYREVILLE, NJ 08872

SBA Loan Lender

AMBOY BANK
HWY 9 NORTH & DOWNING ST
OLD BRIDGE, NJ 08857

This lender issued this loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

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

11/24/2003

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $48,750.

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 only one employee. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Amboy Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Amboy Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Accountant's Role in Securing Financing

SBA Approved Banks in Old Bridge, New Jersey

Getting a Business Loan in New Jersey