Funeral Homes and Funeral Services Loans

With these 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 $927,000 was given to an Arizona entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Tucson, Arizona was able to borrow $927,000 from Mainstreet Lender 7(a), LLC. The SBA made the loan possible by guaranteeing $695,250 of this Arizona small business loan.

SBA Loan Borrower

COMPANY TYPE: FUNERAL HOMES AND FUNERAL SERVICES
Tucson, AZ 85716

SBA Loan Lender

MAINSTREET LENDER 7(A), LLC
2 WISCONSIN CIRCLE, 9TH FLOOR
CHEVY CHASE, MD 20815

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812210 - Funeral Homes and Funeral Services

Loan Approval Date

6/25/2007

Loan Approval Gross Amount

$927,000

Loan Approval from the SBA

Of the total $927,000 loan amount, the SBA guaranteed $695,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower indicated that the loan would help create 450 new jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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.

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