Death care is a $20 billion industry. There are 19,322 funeral homes in the U.S., the majority of which are privately owned. Over the last few years, American life expectancy dropped from 78.9 to 78.6, and in 2016, death rates increased slightly among younger demographics.

Along with mortality rate forecasts, statistics also show a national trend that’s moving toward downsizing funeral costs. While burial rates are expected to decline from 43.2% to 30.3% over the next 8 years, cremation rates are on the rise. In 2015, 48.5% of Americans chose cremation and by 2035, it’s expected that 78.8% will opt for cremation services.

Declining mortality rates, an aging society and shifting funeral preferences are giving new and existing funeral home owners who understand changing needs and death service trends the opportunity to create a profitable business.

Why Seek Funding?

In light of new funeral preferences, funeral homes are faced with the high cost of implementing new trends. Not keeping pace with new industry standards can threaten your funeral home’s ability to be competitive and stay profitable. Compassionately engaging clients, fostering generational loyalty and being able to offer the most current options is essential for building client relationships.

Today, nearly 30% of funeral homes in the U.S. have a crematory, and 9.4% are planning to open a crematory in the next 5 years. Business owners and entrepreneurs who want to stay competitive must incorporate the more affordable trends into their funeral service options, such as at-home funerals, green burials, cremations and water cremations.

Making major changes to your business, or opening a new funeral home that meets current needs requires capital. The team at Cornerstone Capital Lending can help you find the right funeral home loans to cover your costs and help you stay competitive.


Funding Types and Options

SBA 7(a) Loans

The most popular SBA financing option is the SBA 7(a) loan. Funeral home business owners can secure up to $5 million to finance the following projects or goals:

  • Purchasing or expanding property for a funeral home or crematorium
  • Purchasing an existing business
  • Purchasing a leased property
  • Purchasing new technology for expansion
  • Refinancing current debt

SBA 504 Loans

SBA 504 loans are another option for funeral home business owners who want to purchase real estate or equipment for their long-term growth. These loans are also known as Certified Development Company loans, or CDC loans. Businesses can take out SBA 504 loans for:

  • Purchasing existing buildings or property that is being leased
  • Purchasing new technology or equipment that will expand your funeral home business
  • Purchasing new buildings or renovating current facilities

Conventional loans

Funeral homes owners that want to launch or expand by buying or refinancing commercial real estate might consider a conventional loan. Our team can help you determine if it’s the best option for your business.

Find out more about Cornerstone Capital Lending’s conventional loan program.


The Loan Financing Process

Is a conventional or SBA loan right for you? Get in touch with a lender you can trust. Our Cornerstone Capital Lending experts keep you first. We have decades of experience in securing SBA and funeral home loans, and put that wealth of knowledge to work for you. We’ll keep the process simple and help you get the right funeral home loans for your business—fast.


Take The Next Step

Securing funeral home loans can be a challenge when you don’t know what to look for. A knowledgeable professional can help navigate the process and keep it simple and fast. The certified lenders at Cornerstone Capital Lending will help you find and secure the right loan for your business. Contact us to learn more about conventional and SBA funeral home loans.

Discuss your financing options with a certified financial specialist.

Send us a commercial loan quote form.