Legacy Banks
SBA 7(a) Lending Profile · All Time analysis
Industry Focus
Top industries served by Legacy Banks · All Time
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 484110 | General Freight Trucking, Local | 2 | $104K | $52K | 10.5% |
| 812990 | All Other Personal Services | 1 | $77K | $77K | 5.3% |
| 611620 | Sports and Recreation Instruction | 1 | $65K | $65K | 5.3% |
| 325611 | Soap and Other Detergent Manufacturing | 1 | $45K | $45K | 5.3% |
| 238910 | Site Preparation Contractors | 1 | $73K | $73K | 5.3% |
Geographic Distribution
SBA lending activity for Legacy Banks by state
| State | Loans | Volume | Share |
|---|---|---|---|
| Massachusetts (MA) | 19 | $1.4M | 100.0% |
Why Choose Legacy Banks?
Based on SBA 7(a) lending track record from 1992-2009
- ✓Proven Track Record: 19 SBA loans approved, totaling $1.4M in financing
- ✓Industry Expertise: Specialized focus on General Freight Trucking, Local, All Other Personal Services, Sports and Recreation Instruction
- ✓Competitive Terms: Average interest rate of 4.75% with flexible term lengths averaging 59 months
- ✓Loan Range: Loan sizes from $25K to $150K, with an average of $72K
- ✓Nationwide Reach: Active lending in 1 states, with strong presence in MA
Note: Approval and terms are subject to SBA and lender requirements. This profile is based on historical data and does not guarantee future lending decisions.
Frequently Asked Questions
Common questions about Legacy Banks SBA lending
What types of businesses does Legacy Banks typically finance?
Legacy Banks specializes in SBA 7(a) lending to specific industries including general freight trucking, local, all other personal services, sports and recreation instruction, soap and other detergent manufacturing. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Legacy Banks's typical SBA loan terms?
Legacy Banks's SBA 7(a) loans typically feature an average interest rate of 4.75% and average term length of 59 months (approximately 5 years). Loan sizes range from $25K to $150K, with an average loan size of $72K.
Do I need a business valuation for a Legacy Banks SBA loan?
Yes, Legacy Banks typically requires a professional business valuation for SBA loans over $250,000 or for change-of-ownership transactions. A certified valuation helps establish the purchase price, loan amount, and ensures SBA compliance. The valuation typically costs $5,000-$15,000 depending on business complexity.
How does Legacy Banks compare to other SBA lenders?
Legacy Banks has originated 19 SBA loans totaling $1.4M since 1992. They distinguish themselves through industry specialization and expertise in their focus sectors. Compare their rates and terms with other lenders in our Commercial Lending Directory.
What states does Legacy Banks lend in?
Legacy Banks provides SBA 7(a) financing with particularly strong presence in MA. Based on their lending history, they have experience with diverse state-specific business regulations and licensing requirements.
Research Your Target Industry Before Applying
Before applying for SBA financing, research your industry's typical loan sizes, approval rates, and specialized lenders. Understanding industry-specific financing patterns can help you find the right lender and strengthen your application.
Our industry research reports provide comprehensive intelligence for 1,000+ industries including financial benchmarks, growth trends, financing patterns, and which lenders are most active in your sector.
Explore Industry Reports →Need a Business Valuation?
Certified valuations are often required for SBA loans over $250,000.
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