J&P Christeson, LLC
J&P Christeson, LLC is a hardware retailer located in McKeesport, Pennsylvania, classified under NAICS code 444140 (Hardware Retailers). The company was financed with an SBA 7(a) loan for a change of ownership in the amount of $1,000,000, approved on May 20, 2024 by First Commonwealth Bank.
SBA 7(a) loan, change of ownership, approved May 20, 2024
$1,000,000 approvedLender: First Commonwealth Bank25 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,000,000
- SBA-guaranteed amount
- $750,000 (75% of the approval)
- Lender
- First Commonwealth Bank, Indiana, PA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 11.25%, variable
- Term
- 25 years (300 months)
- Estimated maturity
- May 20, 2049 (estimated, approval date plus term)
- Estimated monthly payment
- $9,982 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- May 31, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 16
- Business type
- Corporation
- NAICS
- 444140, Hardware Retailers
- Project location
- Allegheny County, PA
- SBA district office
- Pittsburgh District Office
- Congressional district
- PA-18
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 32% of acquisition loans in Hardware Retailers on this site.
- Average acquisition loan in Hardware Retailers: $1,808,637.
- Average acquisition loan in Pennsylvania: $1,636,965.
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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Same industry in Pennsylvania
- Hardware and Hearth LLC, Johnstown