Who is ReadyCap Specialty Finance and what service do they provide?
ReadyCap Specialty Finance (RCSF), a division of ReadyCap Finance, LLC (RCL), is a national, direct lender that specializes in providing financing solutions for funeral homes and the death care industry. RCSF provides financing options for funeral home acquisitions, partner buyouts, construction, renovations, expansions and debt consolidation.
How did ReadyCap Specialty Finance get involved with the funeral industry?
RCSF is comprised of a team of industry specialists with as many as 20 years of experience lending to the death care industry. In the late 1990’s, members of the RCSF team recognized that the funeral home industry was underserved. There was a lack of financial institutions that truly understood the funeral home business. Some members of the RCSF team have been working together to fill this financial need since 2000. The majority of the current team has been working together since before 2009. In April of 2017 the specialty finance team joined RCL.
What makes RCSF unique?
The RCSF team understands the value of a funeral home. The sticks and bricks have value, but the real value is the people that operate them and the services that they provide to their community.
Many financial institutions will only lend against the fixed, tangible assets. As a result funeral home owners who wish to sell their firms are often times required to provide a substantial level of financing for a perspective buyer. Seller financing delays the seller’s ability to realize the wealth that they have created for years, and sometimes decades.
RCSF understands the value of intangible assets and will lend against the value of the business in addition to the fixed assets. Their loan programs can help insure successful ownership successions and transitions by providing creative financing options. Their loan structures are designed to maximize a buyer’s cash liquidity and cash flow while allowing the seller to get the most out of their payday.
What are the benefits to funeral homes using RCSF?
Clients of the RCSF team work with a hands-on specialist that will be their partner throughout the entire process of obtaining, and ultimately closing, a loan. RCSF lending specialists design loan structures that maximize cash flow and improve their client’s ability to generate wealth.
The RCSF team provides financing that allows funeral home owners to renovate or expand their existing facilities or locations to be acquired. Many lending institutions avoid the time and complexities associated with expansions and ground up construction. RCSF has an experienced team of construction project managers that have financed expansion and ground up construction projects all over the country.
Many of RCSF’s loan programs are designed to help their borrowers maintain their liquidity. Loan structures that include up to 100% financing can often times be provided.
How does RCSF provide a solution for Funeral Homes?
RCSF can provide loan terms that are as long as 25 years with competitive rates. Their loan specialists go into every loan with the understanding that they are entering into a long-term partnership with their borrower. The loan structure that is provided will often times be a contributing factor that will affect the long term success of the borrower’s business.
How would a Funeral Home contact RCSF for more information?
Additional information about ReadyCap Specialty Finance and their network of specialists can be obtained at www.readycaplending.com/specialtyfinance.
ReadyCap Specialty Finance