Main Street Registry

Strang Funeral Chapel, Ltd

Grayslake, IL · Funeral Homes and Funeral Services · NAICS 812210

Strang Funeral Chapel, Ltd, located in Grayslake, Illinois, operates in the funeral homes and funeral services industry. The business was financed with an SBA 7(a) loan for a change of ownership totaling $2,059,300, approved on November 12, 2024 by State Bank of the Lakes, National Association.

SBA 7(a) loan, change of ownership, approved Nov 12, 2024

$2,059,300 approvedLender: State Bank of the Lakes, National Association25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$2,059,300
SBA-guaranteed amount
$1,544,475 (75% of the approval)
Lender
State Bank of the Lakes, National Association, Antioch, IL
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
7.5%, fixed
Term
25 years (300 months)
Estimated maturity
November 12, 2049 (estimated, approval date plus term)
Estimated monthly payment
$15,218 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Apr 18, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
9
Business type
Corporation
NAICS
812210, Funeral Homes and Funeral Services
Project location
Lake County, IL
SBA district office
Illinois District Office
Congressional district
IL-10
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 58% 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 Illinois: $1,796,780.

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.

Is this your company? Claim or correct this listing. See Corrections.

Same industry in Illinois