Legacy Partners LLC
Legacy Partners LLC, based in West Des Moines, Iowa, operates in child care services (NAICS 624410). The company financed real estate or equipment through an SBA 504 loan of $2,906,000, with Bank Five Nine as the partner lender and The Mortgage Capital Development Corporation as the certified development company, approved on November 2, 2023.
SBA 504 loan, approved Nov 2, 2023
$2,906,000 SBA portionCDC: The Mortgage Capital Development Corporation25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $2,906,000
- Bank portion
- $3,552,500
- Estimated project size
- $7,176,111 (estimated)
- Estimated owner equity
- $717,611 (estimated, about 10% of the project)
- Bank lender
- Bank Five Nine, Oconomowoc, WI
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- November 2, 2048 (estimated, approval date plus term)
- First disbursement
- Sep 17, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 42
- Business type
- Corporation
- NAICS
- 624410, Child Care Services
- Project location
- Polk County, IA
- SBA district office
- Des Moines District Office
- Congressional district
- IA-3
- Collateral
- Yes
Estimated share of project by source
Bank 50% SBA (CDC) 40% Owner 10%
- Larger than 87% of expansion loans in Child Care Services on this site.
- Average expansion loan in Child Care Services: $1,977,874.
- Average expansion loan in Iowa: $1,994,971.
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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