Main Street Registry

Generations Funeral Service, LLC

Park Ridge, IL · Funeral Homes and Funeral Services · NAICS 812210

Generations Funeral Service, LLC is located in Park Ridge, IL, and the SBA lists its industry as Funeral Homes and Funeral Services. It was approved for an SBA 7(a) loan of $2,650,000 for a change of ownership on May 15, 2024.

SBA 7(a) loan, change of ownership, approved May 15, 2024

Gross approval
$2,650,000
SBA-guaranteed amount
$1,987,500 (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
9.25%, variable
Term
25 years (300 months)
Estimated maturity
May 15, 2049 (estimated, approval date plus term)
Estimated monthly payment
$22,694 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
May 24, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
5
Business type
Corporation
NAICS
812210, Funeral Homes and Funeral Services
Project location
Cook County, IL
SBA district office
Illinois District Office
Congressional district
IL-09
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)

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