J&K Ace Venture Group, Inc.
J&K Ace Venture Group, Inc. is a hardware retailer in Colorado Springs, Colorado. The company was financed with an SBA 7(a) loan for a change of ownership of $1.7 million, approved on November 4, 2023 by Live Oak Banking Company.
SBA 7(a) loan, change of ownership, approved Nov 4, 2023
$1,700,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,700,000
- SBA-guaranteed amount
- $1,275,000 (75% of the approval)
- Lender
- Live Oak Banking Company, Wilmington, NC
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- November 4, 2033 (estimated, approval date plus term)
- Estimated monthly payment
- $21,998 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Dec 21, 2023
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 2
- Business type
- Corporation
- NAICS
- 444140, Hardware Retailers
- Project location
- El Paso County, CO
- SBA district office
- Colorado District Office
- Congressional district
- CO-05
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 63% of acquisition loans in Hardware Retailers on this site.
- Average acquisition loan in Hardware Retailers: $1,808,637.
- Average acquisition loan in Colorado: $1,608,658.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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