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Foran Funeral Home and Cremation Service, LLC

Summit Argo, IL · Funeral Homes and Funeral Services · NAICS 812210

Foran Funeral Home and Cremation Service, LLC, located in Summit Argo, 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 of $3.25 million from Live Oak Banking Company, with an approval date of September 23, 2026.

SBA 7(a) loan, change of ownership, approved Sep 23, 2026

$3,250,000 approvedLender: Live Oak Banking Company17 years termCommitted, not fully disbursedLoan details
Gross approval
$3,250,000
SBA-guaranteed amount
$1,137,500 (35% of the approval)
Lender
Live Oak Banking Company, Wilmington, NC
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
7.88%, variable
Term
17 years (204 months)
Estimated maturity
September 23, 2043 (estimated, approval date plus term)
Estimated monthly payment
$28,961 Estimated payment at the initial rate over the full term; actual terms vary.
Loan status
Committed, not fully disbursed
Jobs supported
6
Business type
Corporation
NAICS
812210, Funeral Homes and Funeral Services
Project location
Cook County, IL
SBA district office
Illinois District Office
Congressional district
IL-03
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 85% 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.

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Same industry in Illinois