Lakes Area Funeral Service, Inc.
Lakes Area Funeral Service, Inc., located in Spencer, Iowa, operates in the funeral homes and funeral services industry. The company was approved for an SBA 504 loan financing real estate or equipment through an SBA 504 loan of $1,030,000 (SBA portion), with Northwest Bank as the lender and an approval date of January 29, 2026.
SBA 504 loan, approved Jan 29, 2026
$1,030,000 SBA portionCDC: Siouxland Economic Development Corporation25 years termApproved, not yet fundedLoan details
- SBA (CDC) portion
- $1,030,000
- Bank portion
- $1,250,000
- Estimated project size
- $2,533,333 (estimated)
- Estimated owner equity
- $253,333 (estimated, about 10% of the project)
- Bank lender
- Northwest Bank, Spencer, IA
- Processing method
- 504 Basic: standard SBA processing through a CDC
- Term
- 25 years (300 months)
- Estimated maturity
- January 29, 2051 (estimated, approval date plus term)
- Loan status
- Approved, not yet funded
- Jobs supported
- 2
- Business type
- Corporation
- NAICS
- 812210, Funeral Homes and Funeral Services
- Project location
- Clay County, IA
- SBA district office
- Des Moines District Office
- Congressional district
- IA-4
- Collateral
- Yes
Estimated share of project by source
Bank 49% SBA (CDC) 41% Owner 10%
- Larger than 9% of expansion loans in Funeral Homes and Funeral Services on this site.
- Average expansion loan in Funeral Homes and Funeral Services: $1,474,273.
- Average expansion loan in Iowa: $1,994,971.
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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