I-Succession: Lesson 5 Part 2
I-Sucession: Lesson 5 Part 2
Introduction to Lending
By Daniel M. Isard, MSFS
You got your buddy at the bank who always says, “Hey, when you get ready to buy another funeral home, come see me!”Then when that opportunity strikes, their idea of a loan is limited to the value of the funeral building. Typically the allocation of the value of a purchase is 40% Real Estate, 40% Goodwill and 20% on the assets of the business.They will be willing to lend you about 30% of the total purchase price and leave you to your own devices as to the other 70%! Well, I-Succession has your back.
I-Succession has brought together the ability to finance a business purchase or any need for capital and do so at 100% of the value of the business and real estate! There are some lenders out there that make funeral home loans, but IFDF has at its core a lender for its members that can loan whatever you realistically need. Teresa Carlson, a lender with more than a decade making loans in the funeral home space, explains the Bancorp loan programs in this recent video. A good lender understands your ministry and is willing to help you build your business. Teresa explains the various loan packages, in simple to understand language, which is why IFDF has embraced her involvement into the I-Succession program.
The more you know, the better results you will have with your business succession, that’s I-Succession! After you watch the video, let me know what you think.
Daniel M. Isard | Founder
7301 N. 16th Street, Suite 103 | Phoenix, AZ 85020