If you simply search for funeral funding companies, you may become overwhelmed with the number of choices. While many of the funeral finance companies claim to give you the same benefits as the others, not all of them follow through with their promises. This leaves you wondering which company you should choose to fulfill your financing needs.

Do They Require a Contract?

Some funeral funding companies may require a contract, holding you to their services for a specified period of time. This is not the standard within the industry. Instead, most funeral finance companies want to give you assistance to keep your cash flowing and allow you to help grieving families create a fitting tribute to their loved ones on an as-needed basis.

Do They Promise Non-Recourse Funding at a Cut Rate?

It can be a risky business to accept money from a company with the understanding that they will be the ones to collect the funds from the insurance company. Non-recourse funding can eliminate this problem. While many funeral funding companies offer non-recourse funding, few are able to follow through. Therefore, you should look for a funeral finance company that features an on-staff attorney and CPAs to ensure they can track payments and collect from the insurance company if needed. Any company you choose should have a strong history in the business. Don’t take their promises at face value; get proof.

Do Fees Fluctuate?

It is normal for a funeral finance company to charge fees for their services. However, it is not typical for these companies to fluctuate their rates depending on various factors. As you search for the right funeral funding company for your financial needs, ask about their fees. Avoid working with a company with fees that are evasive and difficult to understand.

Is There a Quota?

Some funding companies require you to use their services equal to a specific amount of money each month. Sometimes this quota can be difficult to meet. Because your workload can fluctuate, it is important to choose a company that has no monthly requirements on the amounts they provide.

Do They Have a Time Limit?

Another common trick unreliable funeral funding companies use is setting a time limit on documentation. However, in many cases, the timetable on documentation you receive is beyond your control. This could put you at risk if the insurance company, county, or other entity fails to submit documents on time. A good funeral finance company understands the process.

How Do They Handle Payments?

You need a steady flow of money on a daily basis. Therefore, you need to choose a funeral finance company that offers funding options on all business days. It is also important to consider how they forward the money to you. Some companies offer ACH, wire transfer, and check options. Ask about turnaround time. A quality company shouldn’t make you wait more than 48 hours, just long enough for verification.

Funeral funding is the ideal option for funeral homes to ensure their customers can create the memorial they want for their loved ones. It eases the added pressure of your clients worry about coming up with the money for funeral expenses ahead of time. Because of the nature of funeral finance, it is critical to find the right company with which to work. Asking these questions can put you on the right track to finding the right company.

If you are looking for a quality funeral funding company, contact us. We offer all the dependable funeral finance services you need to keep a steady flow of cash for your business.