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Apply Now →| Feature | Funeral Equipment Financing | Funeral Equipment Leasing |
|---|---|---|
| Ownership | You own the equipment outright at the end of the loan term. It becomes a permanent asset for your business. | The leasing company retains ownership. You have the option to return, renew, or purchase the equipment at the end of the term. |
| Upfront Cost | Typically very low, often requiring only the first payment. Some loans may require a small down payment. | Generally the lowest upfront cost, often just the first month's payment. |
| Monthly Payments | Higher than lease payments, as you are paying off the full value of the asset plus interest. | Lower than loan payments, as you are only paying for the equipment's depreciation during the lease term. |
| Total Cost | The total cost of ownership is generally lower if you plan to use the equipment for its entire lifespan. | The total cost can be higher if you decide to buy the equipment at the end, as the buyout price is added to your total payments. |
| Flexibility | Less flexible. Once you buy the equipment, you are responsible for it until you decide to sell or dispose of it. | Highly flexible. Easy to upgrade to new technology at the end of the lease term, protecting you from obsolescence. |
| Tax Treatment | You can typically deduct the full purchase price in year one via Section 179, plus depreciation and interest payments. | Lease payments are usually deducted as a regular operating expense. Capital leases may qualify for Section 179. |
Key Stat: The market size of the Funeral Homes industry in the U.S. is over $20 billion, with thousands of independent, family-owned businesses requiring capital for equipment and operations. Financing is a key driver of modernization and competition in this vital sector.
By the Numbers
Funeral Equipment Financing - Key Statistics
8 in 10
U.S. companies use some form of financing to acquire equipment, making it the single most common method of asset acquisition. (Source: ELFA)
60.5%
Is the projected cremation rate in the U.S. for 2024, driving demand for modern crematory equipment. (Source: NFDA)
$100k+
The typical cost of a new hearse, making financing an essential tool for fleet management and modernization for most funeral homes.
$1.18T
The estimated value of new business volume for the equipment finance industry, highlighting its critical role in the U.S. economy. (Source: ELFA)
Key Stat: According to the U.S. Census Bureau, a significant portion of small businesses report needing financial assistance for capital expenditures, highlighting the widespread need for accessible financing solutions to fuel growth and operations.
Unlock Your Business's Full Potential
From equipment to expansion, our comprehensive funding solutions are built for the funeral service industry. Get started today.
Apply Now →Identify Your Equipment
Finalize the specific equipment you need to purchase and obtain a detailed quote or invoice from your preferred vendor. This will be the basis for your financing request.
Complete Our Simple Application
Fill out our secure, one-page online application. It takes just a few minutes, and you will receive a decision quickly, often on the same day.
Review Your Offer and Get Funded
Your dedicated account manager will present you with clear financing options. Once you select your term and sign the documents, we pay your vendor directly, and your equipment is on its way.
Ready to Upgrade Your Funeral Home Equipment?
Crestmont Capital offers fast, flexible funeral equipment financing with competitive rates and minimal paperwork. Get a decision in as little as 24 hours.
Apply Now →Yes, absolutely. Crestmont Capital offers financing for both new and used equipment. Financing used equipment can be a cost-effective way to acquire essential assets, and we can structure a loan or lease that reflects the value and lifespan of the used piece.
While a higher credit score (typically 650+) will result in better rates and terms, we can work with a wide spectrum of credit profiles. Because the equipment itself secures the loan, we have more flexibility than traditional lenders and can often find solutions for business owners with less-than-perfect credit.
Repayment terms are flexible and typically range from 24 to 72 months (2 to 6 years). The term length can be tailored to fit your budget, allowing you to choose a monthly payment you are comfortable with. Longer terms result in lower monthly payments, while shorter terms mean you pay less interest over the life of the loan.
Yes, financing is available for new businesses and startups. While lenders typically prefer an established history, we have specific programs designed to help new funeral homes acquire the foundational equipment needed to start serving their communities. The owner's personal credit history and a solid business plan will be important factors.
At the end of a lease term, you have several options depending on the lease type. With an operating lease, you can return the equipment, renew the lease, or purchase it at its Fair Market Value. With a capital lease (or a lease with a $1 buyout), you will typically own the equipment after making the final payment.
This depends on the specific terms of your financing agreement. Some loans may have prepayment penalties, while others do not. Crestmont Capital believes in transparency and will clearly outline any prepayment provisions in your contract before you sign.
The process is extremely fast. After submitting a simple online application, you can receive an approval within hours. Funding can often be completed within 24 to 48 hours, meaning the entire process from application to the vendor being paid can happen in just a couple of business days.
For most applications under $250,000, the process is very simple and requires minimal paperwork. You will typically only need to complete the one-page application and provide an invoice for the equipment you wish to purchase. For larger amounts, we may ask for additional financial documents like bank statements or tax returns.
Yes. We can often bundle soft costs-such as shipping, installation, and staff training-into the total financing package. This allows you to get your equipment fully operational with little to no upfront, out-of-pocket expense.
In many cases, no down payment is required. Often, you will only need to provide the first monthly payment to initiate the agreement. This helps you preserve your cash flow while still acquiring the equipment you need.
Yes, specialty vehicles like hearses, first-call vans, and limousines are some of the most commonly financed assets in the funeral industry. We understand the high cost and importance of these vehicles and offer specific financing programs to help you build and maintain a professional fleet.
When you apply, lenders will typically perform a credit check, which can result in a "hard inquiry" on your personal credit report. However, our streamlined process is designed to minimize any impact. Once funded, the loan is in your business's name, and making on-time payments will help build your business credit profile.
Yes. We can consolidate purchases from multiple vendors into a single, convenient financing agreement. If you are outfitting a new prep room or upgrading your entire office, you can bundle everything into one loan with one simple monthly payment.
Interest rates vary based on several factors, including your credit score, time in business, annual revenue, and the type of equipment being financed. Crestmont Capital offers highly competitive rates. The best way to know your specific rate is to complete our no-obligation application, which allows us to provide you with a concrete offer.
No, you have the freedom to choose the vendor that best meets your needs. Whether it is a national manufacturer, a local dealer, or a private seller, we can work with them. Once your financing is approved, we will coordinate payment directly with the seller you have chosen.
Disclaimer: The information provided in this article is for general educational purposes only and is not financial, legal, or tax advice. Funding terms, qualifications, and product availability may vary and are subject to change without notice. Crestmont Capital does not guarantee approval, rates, or specific outcomes. For personalized information about your business funding options, contact our team directly.