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Fausett Family Funeral Homes, Inc.

Newberry, MI · Funeral Homes and Funeral Services · NAICS 812210

Fausett Family Funeral Homes, Inc. is a funeral home and funeral services business located in Newberry, Michigan. It was financed with an SBA 7(a) loan for a change of ownership totaling $1,435,000, approved on September 2, 2026 by Live Oak Banking Company.

SBA 7(a) loan, change of ownership, approved Sep 2, 2026

$1,435,000 approvedLender: Live Oak Banking Company16 years termCommitted, not fully disbursedLoan details
Gross approval
$1,435,000
SBA-guaranteed amount
$1,076,250 (75% of the approval)
Lender
Live Oak Banking Company, Wilmington, NC
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
8%, variable
Term
16 years (192 months)
Estimated maturity
September 2, 2042 (estimated, approval date plus term)
Estimated monthly payment
$13,273 Estimated payment at the initial rate over the full term; actual terms vary.
Loan status
Committed, not fully disbursed
Jobs supported
7
Business type
Corporation
NAICS
812210, Funeral Homes and Funeral Services
Project location
Luce County, MI
SBA district office
Michigan District Office
Congressional district
MI-01
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 39% of acquisition loans in Funeral Homes and Funeral Services on this site.
  • Average acquisition loan in Funeral Homes and Funeral Services: $1,957,192.
  • Average acquisition loan in Michigan: $1,645,728.

Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.

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