Main Street Registry

Lamiell Funeral Home, Inc

Canton, OH · Funeral Homes and Funeral Services · NAICS 812210

Lamiell Funeral Home, Inc, located in Canton, Ohio, operates in the funeral homes and funeral services industry. The business was financed with an SBA 7(a) loan for a change of ownership totaling $700,000, approved on November 14, 2023 by Live Oak Banking Company.

SBA 7(a) loan, change of ownership, approved Nov 14, 2023

$700,000 approvedLender: Live Oak Banking Company25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$700,000
SBA-guaranteed amount
$525,000 (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
9.6%, variable
Term
25 years (300 months)
Estimated maturity
November 14, 2048 (estimated, approval date plus term)
Estimated monthly payment
$6,165 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 7, 2023
Loan status
Status not reported (SBA exemption)
Jobs supported
5
Business type
Corporation
NAICS
812210, Funeral Homes and Funeral Services
Project location
Stark County, OH
SBA district office
Columbus District Office
Congressional district
OH-07
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 7% 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 Ohio: $1,840,340.

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 Ohio