Legacy Sales LLC
Legacy Sales LLC is a business in Grand Rapids, Michigan, in the Other Commercial Equipment Merchant Wholesalers industry. It was financed with an SBA 7(a) loan for a change of ownership of $1,784,000, approved by The Huntington National Bank on May 20, 2025.
SBA 7(a) loan, change of ownership, approved May 20, 2025
$1,784,000 approvedLender: The Huntington National Bank16 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,784,000
- SBA-guaranteed amount
- $1,338,000 (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
- 7.6%, fixed
- Term
- 16 years (192 months)
- Estimated maturity
- May 20, 2041 (estimated, approval date plus term)
- Estimated monthly payment
- $16,085 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Sep 30, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 2
- Business type
- Corporation
- NAICS
- 423440, Other Commercial Equipment Merchant Wholesalers
- Project location
- Kent County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 73% of acquisition loans in Other Commercial Equipment Merchant Wholesalers on this site.
- Average acquisition loan in Other Commercial Equipment Merchant Wholesalers: $1,485,627.
- Average acquisition loan in Michigan: $1,645,728.
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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