VINEYARD FINANCING, LLC PROVIDES FINANCING FOR PURCHASE OF STEWART ENTERPRISES DIVESTITURE


On August 3, 2004, Vineyard Financing, LLC provided the financing for the purchase of Higgins and Son Funeral Home from STEWART ENTERPRISES.

Jason and Lisa Shepard will be the owner/operators of the funeral home located in Fairburn, Georgia. As co-founders of Joiner-Anderson Funeral Home in Statesboro, Georgia and of Southern Heritage Funeral Home in Dothan, Alabama , the Shepards have plenty of experience in operating start-up funeral home businesses.

"Vineyard really understands the funeral business and we believe they will make a better financing partner than a bank." said Jason. He also added that the loan to value ratio that they provided was much greater than any bank would consider.

Stewart Enterprises sold the business in order to gain proceeds to pay down corporate debt and to focus their attention on other markets.

Jason and Lisa have moved to Fairburn to manage the business themselves. They believe the funeral home is in a great location and has the potential to double the number of families served over the next few years.

The NewBridge Group assisted the Buyer in this transaction.