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Boone Funeral Home of Evansville, Inc.

Evansville, IN · Funeral Homes and Funeral Services · NAICS 812210

Boone Funeral Home of Evansville, Inc. is a funeral home business located in Evansville, Indiana, in the funeral homes and funeral services industry. It was financed with an SBA 7(a) loan for a change of ownership in the amount of $4,393,600, approved on January 13, 2024, by Old National Bank.

SBA 7(a) loan, change of ownership, approved Jan 13, 2024

$4,393,600 approvedLender: Old National Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$4,393,600
SBA-guaranteed amount
$3,295,200 (75% of the approval)
Lender
Old National Bank, Evansville, IN
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
8.25%, fixed
Term
25 years (300 months)
Estimated maturity
January 13, 2049 (estimated, approval date plus term)
Estimated monthly payment
$34,641 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jan 25, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
13
Business type
Corporation
NAICS
812210, Funeral Homes and Funeral Services
Project location
Vanderburgh County, IN
SBA district office
Indiana District Office
Congressional district
IN-08
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 94% 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 Indiana: $1,995,900.

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 Indiana