What Do You Tell Families When They Ask the Price of a Funeral?
Philadelphia – At John Givnish’s 14 Philadelphia locations and hundreds of other independent funeral homes nationally, the response is “$87.00 per Month”. No, Givnish does not offer funerals for less than $100, but Family Shield Credit allows them to advertise a low, affordable monthly price. With the first payment not due until 30 days after the loan origination, there is NO out of pocket expense on the day of the service.
Family Shield Credit is a program created by John Givnish and offered through First Citizens Community Bank. Family Shield allows families to take up to three years to determine how they wish to pay the funeral bill; it’s does not finance funerals for families with true financial need, but it does allow a family that needs time to settle affairs such as settling estates or to sell real estate.
From the funeral business’ perspective, there is no risk. Loans through Family Shield are non-recourse loans, meaning the lending family qualifies for a loan through the bank and the bank assumes the risk. According to Experian, 75% of consumers can qualify for a Family Shield loan as the bank’s requirements are very consumer friendly, requiring a credit score of only 655.
Family Shield Credit was created by funeral directors, for funeral directors. With loans ranging from $2,500 to $25,000, funeral homes can quote a price as low as $87.00 per month for a loan of $2500. Family Shield focuses the family’s attention on the monthly cost of the funeral versus total cost, just as automobile and home loans. Often children will each want to contribute to the cost of a parent’s funeral, Family Shield allows up to three applicants to qualify for a loan against a single funeral with no recourse to the funeral home. The borrowed funds can be used to finance any funeral related expense such as grave marker, cemetery purchase or grave opening in addition to funeral home charges.
Families finance all large purchases, whether a vehicle, home, home remodeling, even dental and cosmetic surgeries. Family Shield has made funeral service financing as available as it is for every other consumer need.
Unlike funeral financing programs in the past, Family Shield is an online application that has the potential for an immediate approval response. The funds are remitted to the funeral home directly.
Family Shield helps to eliminate accounts receivable. One of the toughest decisions a business owner must make is whether a family is credit worthy. They present their predicament, and you want to help but you’re not a banker and even if they do seem trustworthy, you need payment now, not at some indeterminate time in the future. Family Shield allows you to direct a family to financing just as if they were in an automobile dealership; and with no risk to you.
Most importantly, Family Shield allows you to offer a service of real value to a family; the necessary funds to afford the funeral they want at a cost within their budget. As price shoppers have become more common, every funeral home has lost a family because the firm required payment in full prior to services. With Family Shield, the family has time to arrange their financial affairs and have the funeral in a timely manner.
Visit Family Shield Credit at familyshieldcredit.com, complete the request for information just as hundreds of independent funeral business owners. You will receive the necessary information and forms to give families wanting loans. Families will appreciate the service and you will attract more business. When families ask you how much a funeral cost, you can respond with “as little as $87.00 per month”.
