Pender's Music Company LLC
Pender's Music Company LLC is a musical instrument and supplies retailer in Denton, TX. The company was financed with an SBA 7(a) loan for a change of ownership of $650,500, approved on December 11, 2024 by Colony Bank, and the loan reported 8 jobs.
SBA 7(a) loan, change of ownership, approved Dec 11, 2024
$650,500 approvedLender: Colony Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $650,500
- SBA-guaranteed amount
- $487,875 (75% of the approval)
- Lender
- Colony Bank, Fitzgerald, GA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.5%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- December 11, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $8,778 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Dec 27, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 8
- Business type
- Corporation
- NAICS
- 459140, Musical Instrument and Supplies Retailers
- Project location
- Denton County, TX
- SBA district office
- Dallas / Ft Worth District Office
- Congressional district
- TX-26
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Musical Instrument and Supplies Retailers: $1,886,956.
- Average acquisition loan in Texas: $1,944,682.
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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- Loud Commerce Co LLC, Tyler