Funeral Homes and Funeral Services acquisitions in Michigan: SBA loan data
Since FY2018, SBA lenders have approved 18 7(a) loans to buy an existing business classified as Funeral Homes and Funeral Services in Michigan, totaling $24.1M. The median loan was $1,223,500. That is 1.1% of the 1,680 acquisition loans in Michigan.
That draft favors the seller. We review it for the buyer, line by line.
Submit Transaction DetailsFree consultation. All 50 states.
How this compares
The median Funeral Homes and Funeral Services loan in Michigan is 109% higher than the $585,000 median for all Michigan acquisitions, and 12% lower 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 1.8% of seasoned Michigan acquisition loans of any type.
Funeral Homes and Funeral Services acquisition loans in Michigan by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 2 | $2.7M | $1,352,500 | |
| FY2019 | 4 | $4.3M | $1,043,000 | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 4 | $7.1M | $1,555,500 | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 1 | $1.5M | $1,480,600 | |
| FY2024 | 3 | $2.6M | $635,000 | |
| FY2025 | 0 | $0 | - | |
| FY2026 | 4 | $5.9M | $1,342,500 |
How often do these acquisition loans fail?
Fewer than 20 Funeral Homes and Funeral Services in Michigan 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.
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentAlex Lubyansky leads every engagement.
Top lenders
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Live Oak Banking Company | 11 | 61.1% | $14.1M | |
| 2 | North Valley Bank | 2 | 11.1% | $3.6M | |
| 3 | Fifth Third Bank | 1 | 5.6% | $2.6M | |
| 4 | Central Savings Bank | 1 | 5.6% | $1.5M | |
| 5 | County National Bank | 1 | 5.6% | $889K |
Top franchise brands
No franchise brands recorded in this combination.
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsSBA-financed deals. All 50 states.
Questions buyers ask
How much do SBA loans for Funeral Homes and Funeral Services acquisitions in Michigan run?
The median SBA 7(a) loan was $1,223,500 across 18 loans (FY2018 to FY2026). 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 Michigan?
Live Oak Banking Company (11), North Valley Bank (2), Fifth Third Bank (1), Central Savings Bank (1), County National Bank (1).
How often do Funeral Homes and Funeral Services acquisition loans fail in Michigan?
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 Michigan?
None of the 18 loans in this combination were recorded with a franchise brand.
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
Advertise on this site: lenders, brokers, valuation and insurance firms. See options
Related
- All Michigan 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 Illinois
- Funeral Homes and Funeral Services in Ohio
- Funeral Homes and Funeral Services in Wisconsin
- Funeral Homes and Funeral Services in Indiana
- Beer, Wine, and Liquor Retailers in Michigan
- Full-Service Restaurants in Michigan
- Limited-Service Restaurants in Michigan
- Hotels and Motels in Michigan
- Plumbing, Heating, and Air-Conditioning Contractors in Michigan
- Landscaping Services in Michigan
- General Automotive Repair in Michigan
- Offices of Chiropractors in Michigan
Small samples move a lot: each loan in this combination is 6% of the count. Industry is the NAICS code the lender recorded. See the methodology.