May 9th, 2013 - Charleston, SC: East Bridge Funding (EAST BRIDGE) has expanded its at-need funeral financing program and is now marketing the program exclusively to the funeral home industry under the name Sunstone Acceptance (Sunstone). Sunstone provides funeral homes with the ability to offer their families a closed-end, fixed-rate installment loan to pay for funeral expenses at the time of need. The program is non-recourse to the funeral home and is available in all 50 states.
“The funeral industry is a great opportunity for us,” said Daniel O'Connor, Managing Director of East Bridge Funding. “There are not a lot of true at-need financing options out there for funeral homes. Most of the programs we have seen are billing and servicing, or account management programs and the few standard loan programs that do exist are priced for marginal credit or second look financing. While these options are useful to funeral homes, we felt that the industry needed a solution that offers the same type of pricing and terms to both funeral homes and families that you would expect from a major bank finance program. Families will appreciate the security of having an affordable monthly payment on a fixed-rate installment loan and attractive APR, while the funeral home will increase there service offering at a very minimal cost.”
The Sunstone Acceptance financing program can be used by participating funeral homes that have access to the web. Applications are submitted online and decisions are generated within minutes. The paperwork can be executed in the funeral home or can be sent to the family member electronically for execution via email. “To be effective, we knew the program had to not only offer attractive terms, but also had to be easy to use for both the funeral home and the family,” said Mr. O’Connor. “Our program has also benefitted from having a funding partner who maintains a strong reputation for providing excellent service to debtors. We couldn’t be happier with how this program has developed and are excited to offer it under the Sunstone Acceptance brand”.