Radney-Langley Funeral Home, Inc
Radney-Langley Funeral Home, Inc, located in Alexander City, Alabama, operates in the funeral homes and funeral services industry (NAICS 812210). The business was financed with an SBA 7(a) loan for a change of ownership in the amount of $3,740,000, approved on March 28, 2024 by Live Oak Banking Company.
SBA 7(a) loan, change of ownership, approved Mar 28, 2024
$3,740,000 approvedLender: Live Oak Banking Company25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $3,740,000
- SBA-guaranteed amount
- $2,805,000 (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
- 9.45%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- March 28, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $32,546 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Apr 8, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 16
- Business type
- Corporation
- NAICS
- 812210, Funeral Homes and Funeral Services
- Project location
- Tallapoosa County, AL
- SBA district office
- Alabama District Office
- Congressional district
- AL-02
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 90% 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 Alabama: $1,764,717.
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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