Resonance Music, LLC
Resonance Music, LLC is a musical instrument and supplies retailer located in Pittsburgh, PA, in the Musical Instrument and Supplies Retailers industry (NAICS 459140). The business was financed with an SBA 7(a) loan for a change of ownership of $930,000, approved on January 31, 2025 by The Huntington National Bank.
SBA 7(a) loan, change of ownership, approved Jan 31, 2025
$930,000 approvedLender: The Huntington National Bank10 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $930,000
- SBA-guaranteed amount
- $697,500 (75% of the approval)
- Lender
- The Huntington National Bank, Columbus, OH
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.25%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- January 31, 2035 (estimated, approval date plus term)
- Estimated monthly payment
- $12,419 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Mar 18, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 4
- Business type
- Corporation
- NAICS
- 459140, Musical Instrument and Supplies Retailers
- Project location
- Allegheny County, PA
- SBA district office
- Pittsburgh District Office
- Congressional district
- PA-17
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Average acquisition loan in Musical Instrument and Supplies Retailers: $1,886,956.
- 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
- Music Go Round, Wilkes Barre Township