Funeral Home Lending
In early 2007, FDLIC had the opportunity to finance some rather large acquisitions for a few of our independent funeral home clients. We realized then that we had a unique advantage over most financial institutions when it comes to financing funeral homes--we know the business. Over the last few years we have refined the financing process and streamlined our operations in order to serve our customers better. For FDLIC, the funeral home lending program is another demonstration of our commitment to funeral service--it is an additional opportunity to help funeral homes achieve their goals for the future of their businesses.
Why finance through FDLIC and not a financial institution? We believe that we make the process easier because of our in-depth knowledge of funeral operations and business cycles. That knowledge makes it easier to analyze and understand the funeral home's financial and market information. Because we know the industry, we also know many funeral home owners, their capabilities and reputations within the industry and their communities. This factor in our loan review process is just as important as the financial information that is provided.
You probably won't find our underwriting requirements to be much different than that of other financial institutions. We require a loan application, financial data on the funeral home operations and a current real estate appraisal. Terms are determined based on the financial stability and strength of the funeral home and the guarantors. What you will find is a more consultative approach to ensure that the end result is a win-win for everyone involved. You will also find competitive rates and terms that fit the needs of your business.
Another integral component of the financing process is the funeral home's commitment to sell only FDLIC preneed products. We want to be your business partner, not just your lender, and we feel that the more we know about your specific needs, the better we can assist you in achieving your goals. For more information, contact FDLIC’s Director of Finance at 800-692-9515.
