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Who We Are:
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We are loan officers working for federally insured banks.
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We are not brokers or intermediaries.
What We Do:
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We determine if you can qualify for a loan, how much you can borrow, how much your down payment will be, and how long it will take.
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We do not charge up-front fees.
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We evaluate your transaction quickly.
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We help save you time and money.
Why Is This Important:​
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Working directly with a bank loan officer saves you time and money by eliminating the middle man and unnecessary transaction fees.​
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Benefits of funeralhomeloan.com:
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Quicker response time
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Easier application process
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Clear transaction timeline
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Lower fees
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Better terms
Talk with an experienced banker:
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Is my transaction doable?
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Can I qualify for a loan?
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How much can I borrow?
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How much down payment will I need?
Learn about the process:
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What are the steps to getting a loan?​
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How long does the loan process take?
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What items will I need for the bank?
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What items will I need from the seller?
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Types of Loans:
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Fix spacing to make sure it’s just one line for each type of loan
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SBA 7(a) Loans: Government-backed loans with lower down payment options.
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Conventional Loans: Loans based on a percentage of the value of pledged real estate.
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Seller Notes: Seller financing subordinate to the primary bank lender. ​​
Types Of Loans
Commercial Loan
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Purpose: Real estate, equipment, inventory, or working capital.
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Lenders: Traditional banks, credit unions, or online lenders.
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Collateral: Required, loan amount is limited to a % of the collateral value.
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Interest Rates: Generally fixed for 5-10 years with a reset. Because the loan is fully collateralized, the rates can sometimes be better than an SBA loan.
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Terms: Depend on the borrower’s creditworthiness and the specific loan structure.
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Down Payment: 20%–30% or more, depending on the lender and loan type.
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Government Guarantee: No government guarantee, meaning the lender assumes all the risk.
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Prepayment Penalty: 1%-5% or declining over 5 years.​
SBA 7(a) Loan
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Purpose: Real estate, equipment, inventory, working capital, debt refinance, or business acquisition including Goodwill.
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Lenders: Provided by banks, but backed by the SBA, which guarantees 75% of the loan.
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Collateral: Required if available.
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Interest Rates: Generally variable rates capped by the SBA, typically Prime + 1-3%
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Terms: Up to 25 years for real estate, and up to 10 years for non-real estate.
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Down Payment: 10%-20% down payment, depending on the lender and use of the funds.
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Government Guarantee: Yes, the SBA guarantees part of the loan, reducing the risk for lenders, which is why the use of proceeds is not limited to the value of any collateral pledged.
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Prepayment Penalty: Declining over 3 years. Year one 5%, year two 3%, year three 1%. Only applies if 25% or more of the total balance is prepaid during this period.
SBA 504 Loan
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Purpose: Real estate or equipment
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Lenders: Private lender 50%, Certified Development Company 40%, Borrower 10%.
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Collateral: The purchased assets (property or equipment) serve as collateral.
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Interest Rates: The private lender’s portion will have market-based interest rates, while the CDC’s portion will have a fixed, below-market rate.
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Terms: 20-25 years for real estate and 10 years for equipment.
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Down Payment: Requires a 10% down payment, which is lower than most commercial loans, making it an attractive option for borrowers with limited capital.
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Government Guarantee: The SBA guarantees the CDC portion (40%) of the loan, offering some protection to lenders and lower interest rates for borrowers.
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Prepayment Penalty: Declining over 10yrs. Year one 10%, then 9%, 8%...