The Deal That Refused To Die
How Persistence Turned a Funeral Home Into a Million-Dollar Victory
Some deals hide in the shadows. The numbers are excellent, the opportunity extraordinary, yet every step forward feels like a ghost tugging at the buyer’s sleeve.
That was this deal.
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The Hidden Gem in the Death Care Industry
In August 2024, we sourced a funeral home producing $900,000 in annual revenue, priced at only $2.3 million. The seller was motivated, worn down by ownership, and ready to exit quickly.
Financially attractive.
Operationally stable.
Emotionally intimidating.
Death care makes many would-be entrepreneurs uneasy. Even brilliant investors get spooked.
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Buyer #1: Fear Of The Industry
We presented the business to our first acquisition candidate.
They took one look at the sector and said:
“No thank you, we don’t do funeral homes.”
They bowed out without a second conversation.
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Buyer #2: SBA Reality Check
The second buyer was enthusiastic, claiming:
• Strong income
• Plenty of liquidity
• Ability to close fast
We pushed forward into the SBA approval process.
When the bank confirmed they would require 26% down, the buyer suddenly hesitated. Their liquidity disappeared. The assurances were empty.
Another illusion dissolved.
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Buyer #3: Personality Clash
By November 2024, we tried a new candidate.
The financials made sense to them.
The business model made sense to them.
The seller?
They didn’t like them.
A single Zoom meeting torpedoed the deal.
Compatibility matters.
Trust matters.
This buyer walked away.
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Buyer #4: The In-House Contender
We shifted focus inward and brought in a client from our own network:
• Solid financials
• Level-headed
• Comfortable with a sensitive service industry
• Hungry to acquire cash-flowing assets
This buyer was the fit we’d been waiting for.
We positioned them with multiple lenders.
Meridian Bank stepped up first.
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Meridian’s Turnsheets: The Sensible Option
Meridian issued a professional, realistic term sheet.
• Mandatory life insurance coverage
• 60-day close goal with no absolute guarantee
• Standard SBA diligence process
Responsible lending, nothing unusual.
The buyer didn’t love it.
They wanted a smoother ride.
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Lender #2: False Hope
A competing bank swooped in with a hero cape:
“No down payment required!
We can close in 60 days!”
Their term sheet was nearly blank, but the buyer wanted to believe.
Excitement soared… until underwriting reviewed the file.
They abruptly declined.
No apology, no alternative.
Just a door closing with a smile.
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Lender #3: Half A Deal
Still resisting Meridian, the buyer went searching again.
Another bank stepped up and reviewed everything.
Their maximum approved loan:
$1.1 million against a $2.3 million purchase.
The buyer would now need 50% down, which defeated the purpose entirely.
They turned to the seller and asked for them to carry the difference.
The seller was done.
Silent.
Trust shattered.
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Rescue Mission: Return To Our Lender
We stepped in and redirected the buyer:
“Go back to the lender who believes in this deal.”
Meridian returned to the table.
So did the seller—cautiously—only after seeing real bank commitment again.
Still, the delays took a massive toll.
What could have closed in February was now limping forward into September.
The buyer hesitated multiple times.
The seller disappeared multiple times.
Financial surprises emerged.
Communication frayed.
Everyone wanted to quit.
Yet we kept all parties aligned just enough to continue moving.
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Victory In October
Our Lender pushed the deal across the finish line.
In October 2025, the buyer purchased the funeral home for:
✅ $2.3 million
Then the bank’s valuation team completed their independent assessment:
📈 $3.2 million current business value
📈 Over $1,000,000 in annual revenue and growing
They purchased an undervalued asset
with built-in equity
and seven-figure cash flow.
Exactly the type of acquisition dreams are made of.
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The Investor’s Lesson: Chase The Closing, Not The Fantasy
M&A success is not about:
✘ The absolute lowest down payment
✘ The perfect interest rate
✘ Negotiating every contingency into a pillow
It is about:
✅ Closing
✅ Owning the cash-flowing business
✅ Refinancing later for better terms
✅ Building wealth with traction, not hesitation
A buyer can pay 39% interest on day one and still become wealthy
if the business prints cash and the loan can be refinanced once the numbers shine.
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Final Takeaway
Stay with the lender who says yes and proves it.
Deals die when buyers chase imaginary shortcuts.
Deals close when buyers stay committed to the partner who will fund the acquisition.
The winner is the one who keeps going when every obstacle says stop.
This funeral home is living proof.
Persistence builds portfolios.
Commitment builds cash flow.
Action builds wealth.
