Funeral Homes and Funeral Services acquisitions in Illinois: SBA loan data
Since FY2018, SBA lenders have approved 23 7(a) loans to buy an existing business classified as Funeral Homes and Funeral Services in Illinois, totaling $45.1M. The median loan was $1,830,000. That is 1.3% of the 1,779 acquisition loans in Illinois.
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How this compares
The median Funeral Homes and Funeral Services loan in Illinois is 182% higher than the $650,000 median for all Illinois acquisitions, and 32% higher than the $1,390,000 median for Funeral Homes and Funeral Services acquisitions nationwide (351 loans).
This combination has too few seasoned loans for a reliable charge-off rate. Nationally, 0.6% of seasoned Funeral Homes and Funeral Services acquisition loans were charged off, and 4.5% of seasoned Illinois acquisition loans of any type.
Funeral Homes and Funeral Services acquisition loans in Illinois by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 4 | $6.8M | $778,500 | |
| FY2019 | 1 | $2.3M | $2,340,000 | |
| FY2020 | 2 | $6.2M | $3,087,500 | |
| FY2021 | 0 | $0 | - | |
| FY2022 | 1 | $1.6M | $1,575,000 | |
| FY2023 | 1 | $1.5M | $1,460,000 | |
| FY2024 | 1 | $2.7M | $2,650,000 | |
| FY2025 | 8 | $14.5M | $1,944,650 | |
| FY2026 | 5 | $9.6M | $1,530,000 |
How often do these acquisition loans fail?
Fewer than 20 Funeral Homes and Funeral Services in Illinois acquisition loans are old enough to measure losses reliably, so no charge-off rate is shown. The benchmark across all SBA acquisition loans in the FY2018 to FY2021 cohort is 3.5% by count. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.
"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.
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Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Live Oak Banking Company | 15 | 65.2% | $34.8M | |
| 2 | United Midwest Savings Bank National Association | 2 | 8.7% | $3.1M | |
| 3 | Byline Bank | 1 | 4.3% | $2.3M | |
| 4 | State Bank of the Lakes, National Association | 1 | 4.3% | $2.1M | |
| 5 | First Business Bank | 1 | 4.3% | $1.1M |
Top franchise brands
No franchise brands recorded in this combination.
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Questions buyers ask
How much do SBA loans for Funeral Homes and Funeral Services acquisitions in Illinois run?
The median SBA 7(a) loan was $1,830,000 across 23 loans (FY2018 to FY2026), with the middle half between $825,000 and $2,620,000. The loan excludes the buyer's equity and any seller note and may include working capital, so the price is usually higher than the loan.
Which banks finance Funeral Homes and Funeral Services acquisitions in Illinois?
Live Oak Banking Company (15), United Midwest Savings Bank National Association (2), Byline Bank (1), State Bank of the Lakes, National Association (1), First Business Bank (1). Some lenders repeatedly finance this industry in this state; the counts above show which.
How often do Funeral Homes and Funeral Services acquisition loans fail in Illinois?
Fewer than 20 loans in this combination are old enough to measure losses reliably, so no rate is shown. The national benchmark for all SBA acquisition loans is 3.5% (FY2018 to FY2021 cohort).
Are franchised businesses part of Funeral Homes and Funeral Services acquisitions in Illinois?
None of the 23 loans in this combination were recorded with a franchise brand.
Terms signed in the LOI shape the purchase agreement that follows.
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Related
- All Illinois acquisitions
- Funeral Homes and Funeral Services nationally
- Funeral Homes and Funeral Services in Pennsylvania
- Funeral Homes and Funeral Services in New York
- Funeral Homes and Funeral Services in New Jersey
- Funeral Homes and Funeral Services in Ohio
- Funeral Homes and Funeral Services in Michigan
- Funeral Homes and Funeral Services in Wisconsin
- Funeral Homes and Funeral Services in Indiana
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Small samples move a lot: each loan in this combination is 4% of the count. Industry is the NAICS code the lender recorded. See the methodology.