By Thomas A. Parmalee A newly formed funeral service company that includes a well-known figure in the funeral profession and a few fresh faces is gearing up to make its first purchase. Memora Partners, which is family owned, has enlisted the services of John McQueen, who is renowned for bringing…
Read MoreBy Thomas A. Parmalee Phillip Mason still remembers the day that changed everything. “I was helping a family navigate a funeral bill,” he said. “They applied for the financing option we offered at the time – and were declined. I watched them put the cost on five different credit cards…
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By Johnson Consulting Group It’s no secret that many funeral home owners are approaching a crossroads – whether to pass the business to family, transition to employees, or sell to a third party. If you’re one of them, the time to start planning is now. At Johnson Consulting Group, we…
Read MoreBy Andrew Kennedy, Senior Loan Officer – Live Oak Bank For funeral home owners, understanding and cultivating strong business credit is not just a financial best practice – it directly impacts your ability to navigate the unique demands and opportunities within the deathcare industry. From securing capital for facility upgrades…
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By Andrew Kennedy, senior loan officer, Live Oak Bank During the sale of a funeral home, the seller and buyer must navigate a specific legal process. After diligently conducting due diligence and signing a letter of intent, a purchase agreement for the funeral home marks the official start of the…
Read MoreBy Thomas A. Parmalee Teresa Carlson, one of the most recognizable bankers in funeral service, has worked at The Bancorp for the past seven years, spearheading an innovative lending program with the backing of Homesteaders Life Company. A married mother of three, she would never dream of becoming a funeral…
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By Andrew Kennedy - Senior Loan Officer, Live Oak Bank If you own a funeral home, ensuring the safety and accessibility of business funds is crucial for both operational stability and long-term planning. Understanding the role of the Federal Deposit Insurance Corporation is essential in protecting your business finances. When…
Read MoreBy Thomas A. Parmalee Before it inked a pact with Express Funeral Funding to make insurance assignment funding available at all its funeral homes, Carriage Services was probably like most other big death-care companies. Some locations offered an insurance assignment option, and others did not. But that’s all changing under…
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By: Andrew Kennedy, Senior Loan Officer, Live Oak Bank Many funeral homeowners may find navigating Small Business Administration lending programs daunting. You may have heard they are overly complicated or only for businesses in dire straits. These myths couldn't be further from the truth, especially for thriving funeral homes looking…
Read MoreBy: Andrew Kennedy –Senior Loan Officer – Live Oak Bank The Small Business Administration recently issued a new procedural notice1 offering significant benefits for small business owners seeking an SBA loan. The changes open the door to: Asset sales for partial changes of ownership acquisitions. Blended term for partial change of…
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FuneralVision.com has been keeping tabs of the latest mergers and acquisitions in funeral service. Merkle Funeral Service, Inc. in Monroe County, Michigan, recently acquired Crane Funeral Home in Romulus, Michigan. The Romulus location is the fifth facility under the Merkle name and the first to be located outside of Monroe…
Read MoreBy Andrew Kennedy, VP - Funeral Home & Cemetery Lending, Live Oak Bank Are you a funeral director looking to expand your business through acquisition? An SBA 7(a) loan can significantly advance your goals. Let's explore how this financing option can streamline your path to acquiring or expanding your funeral…
Read MoreAlan Creedy and Danny Jefferson, two funeral service innovators who host a popular podcast called “Two Guys and a Question,” shared a bevy of insights on whether and how to post prices online in their latest episode. Both men alluded to the fact that funeral homes may very well soon…
Read MoreAlan Creedy and Danny Jefferson, two funeral service innovators who host a popular podcast called “Two Guys and a Question,” shared a myriad of insights on “the ins and outs of discounting prices” in their latest episode. “The implicit assumption in funeral service is that the form of disposition dictates…
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