Brookfield, Wis. – For some families, a funeral can be an unexpected and significant financial burden. The National Funeral Directors Association (NFDA) is pleased to exclusively endorse LendingUSA, an at-need financing solution for families that may have difficulty paying for their loved one’s funeral.
“Following an extensive search and thorough vetting process, we are excited to add LendingUSA to our roster of NFDA endorsed providers,” said NFDA President Ashley Cozine. “LendingUSA is a solid, reputable company that will provide excellent customer service to our members and the families they serve.”
LendingUSA lets families focus on working with a funeral director to plan a meaningful funeral or memorial service for their loved one. Depending on the applicant’s credit score, there are three tiers of financing; approximately 70 percent of applicants fall into tiers one and two. Families may qualify for a 0% interest rate if their loan is fully paid off within six months; there are no prepayment penalties or rate jumps.
Funeral homes assume no risk or recourse when a family chooses to use LendingUSA to finance a funeral. The funeral home receives payment via direct deposit, typically within three business days. Families work directly with LendingUSA to pay off their loan.
Best of all, for approved loans that fall into tier one or two, the funeral home pays no fee. Approved loans that fall into tier three are considered subprime; because of the risk of these applicants, LendingUSA will charge the funeral home a small fee – but only on those higher risk loans.
NFDA members can learn more about LendingUSA and how they can begin offering this at-need financing option to families by visiting www.nfda.org/endorsedproviders (member login required) or by calling their member services representative at 800-228-6332.
About NFDA
NFDA is the world’s leading and largest funeral service association, serving 19,700 individual members who represent more than 10,000 funeral homes in the United States and 49 countries around the world. NFDA is the trusted leader, beacon for ethics and the strongest advocate for the profession. NFDA is the association of choice because it offers funeral professionals comprehensive educational resources, tools to manage successful businesses, guidance to become pillars in their communities and the expertise to foster future generations of funeral professionals. NFDA is headquartered in Brookfield, Wis., and has an office in Washington, D.C. For more information, visit www.nfda.org.
About LendingUSA
LendingUSA exists for one reason: to provide meaningful financial support that enables the most important moments in people’s lives. The money they need – when and where they need it. The Company’s proprietary technology combines traditional and next-generation underwriting techniques to provide loan decisions in real time, often in a matter of seconds. And an experienced leadership team and dedicated staff are focused every day on creating the best point-of-need consumer financing products in the marketplace.
