Legnon's Boucherie L.L.C.
Legnon's Boucherie L.L.C. in New Iberia, Louisiana, is in the meat retail industry (NAICS 445240). The business was financed with an SBA 7(a) loan for a change of ownership of $1,646,000, approved on June 4, 2024, through Gulf Coast Bank.
SBA 7(a) loan, change of ownership, approved Jun 4, 2024
$1,646,000 approvedLender: Gulf Coast Bank15 years termStatus not reported (SBA exemption)Loan details
- Gross approval
- $1,646,000
- SBA-guaranteed amount
- $1,234,500 (75% of the approval)
- Lender
- Gulf Coast Bank, Abbeville, LA
- Processing method
- Standard 7(a): the lender submits the application for SBA review
- Initial interest rate
- 10.75%, variable
- Term
- 15 years (180 months)
- Estimated maturity
- June 4, 2039 (estimated, approval date plus term)
- Estimated monthly payment
- $18,451 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jul 1, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 9
- Business type
- Corporation
- NAICS
- 445240, Meat Retailers
- Project location
- Iberia County, LA
- SBA district office
- Louisiana District Office
- Congressional district
- LA-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 83% of acquisition loans in Meat Retailers on this site.
- Average acquisition loan in Meat Retailers: $1,128,604.
- Average acquisition loan in Louisiana: $1,702,056.
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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