Frioux Funeral Home LLC
Frioux Funeral Home LLC, located in New Iberia, Louisiana, operates in the funeral homes and funeral services industry. The company was financed with an SBA 7(a) loan for a change of ownership of $4.18 million, approved on September 27, 2024 by Live Oak Banking Company.
SBA 7(a) loan, change of ownership, approved Sep 27, 2024
$4,180,000 approvedLender: Live Oak Banking Company25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $4,180,000
- SBA-guaranteed amount
- $3,135,000 (75% of the approval)
- Lender
- Live Oak Banking Company, Wilmington, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.5%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- September 27, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $36,521 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Oct 10, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 3
- Business type
- Corporation
- NAICS
- 812210, Funeral Homes and Funeral Services
- Project location
- Iberia County, LA
- SBA district office
- Louisiana District Office
- Congressional district
- LA-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 93% 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 Louisiana: $1,702,056.
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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