Funeral Homes and Funeral Services acquisitions in New York: SBA loan data
Since FY2018, SBA lenders have approved 28 7(a) loans to buy an existing business classified as Funeral Homes and Funeral Services in New York, totaling $44.6M. The median loan was $1,499,500. That is 1.8% of the 1,530 acquisition loans in New York.
Seller note standby terms and third-party consents are reviewed before closing.
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How this compares
The median Funeral Homes and Funeral Services loan in New York is 160% higher than the $577,500 median for all New York acquisitions, and 8% 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 2.7% of seasoned New York acquisition loans of any type.
Funeral Homes and Funeral Services acquisition loans in New York by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 3 | $4.8M | $1,499,000 | |
| FY2019 | 3 | $8.6M | $2,965,000 | |
| FY2020 | 10 | $11M | $804,000 | |
| FY2021 | 1 | $745K | $745,000 | |
| FY2022 | 1 | $1.5M | $1,510,000 | |
| FY2023 | 3 | $4.8M | $1,577,000 | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 4 | $6.7M | $1,835,000 | |
| FY2026 | 3 | $6.4M | $2,178,000 |
How often do these acquisition loans fail?
Fewer than 20 Funeral Homes and Funeral Services in New York 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 Bank | 10 | 35.7% | $24.2M | |
| 2 | North Valley Bank | 7 | 25.0% | $11.2M | |
| 3 | United Midwest Savings Bank | 6 | 21.4% | $6.7M | |
| 4 | Pioneer Bank | 2 | 7.1% | $1.1M | |
| 5 | Tompkins Community Bank | 2 | 7.1% | $620K |
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 New York run?
The median SBA 7(a) loan was $1,499,500 across 28 loans (FY2018 to FY2026), with the middle half between $752,500 and $2,155,000. 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 New York?
Live Oak Bank (10), North Valley Bank (7), United Midwest Savings Bank (6), Pioneer Bank (2), Tompkins Community Bank (2). 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 New York?
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 New York?
None of the 28 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.
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Related
- All New York acquisitions
- Funeral Homes and Funeral Services nationally
- Funeral Homes and Funeral Services in Pennsylvania
- 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 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.