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Redmond Funeral Home, Inc.

Freeport, PA · Funeral Homes and Funeral Services · NAICS 812210

Redmond Funeral Home, Inc. is a funeral home and funeral services business located in Freeport, PA, classified under NAICS code 812210. The company was financed with an SBA 7(a) loan for a change of ownership of $885,000, approved on March 19, 2024, through Live Oak Banking Company.

SBA 7(a) loan, change of ownership, approved Mar 19, 2024

$885,000 approvedLender: Live Oak Banking Company17 years termStatus not reported (SBA exemption)Loan details
Gross approval
$885,000
SBA-guaranteed amount
$663,750 (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
10%, variable
Term
17 years (204 months)
Estimated maturity
March 19, 2041 (estimated, approval date plus term)
Estimated monthly payment
$9,038 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Apr 3, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
2
Business type
Corporation
NAICS
812210, Funeral Homes and Funeral Services
Project location
Armstrong County, PA
SBA district office
Pittsburgh District Office
Congressional district
PA-14
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 22% 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 Pennsylvania: $1,636,965.

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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Same industry in Pennsylvania