At-need financing in the funeral home industry
Rising funeral costs have become an issue around the world; and it is often observed that the families of the deceased do not have the money to pay for the funeral services.
Funeral services have been on a continuous rise in the recent years, and the major reason behind it is increasing property prices. Not only have burial sites increased, but the cost of the service or ceremony has also increased.
As per the statistics of National Funeral Directors Association, the median cost of a funeral with burial service and viewing is $7181, but if we observe the cost for the same thing back in 2004, it was just $5582. This shows an increase of 28.6% and such an increase in a short time is very alarming. The increased rate is making it difficult for lower income, even middle-class families, to arrange a proper funeral service.
Rising funeral costs have increased the importance of at-need financing. There are financial lenders that arrange termed loans in order to cover all the expenses associated with the funeral. Families are already under a considerable amount of stress and when burdened with the cost of the funeral, the stress can understandably compound. At-need financing is often the best option during these times.
What Financing Your Way can do for your business
Financing Your Way provides up to $35,000 on a 6-month same as cash at-need financing option designed to lessen the financial load on families. We can help you develop a comprehensive plan that is good for both you and your customers. Call us today to find out more about our programs!
Want to read more about Financing Your Way’s program for funeral homes? Check out our most recent press release, just click here!