Farlegacy Land, LLC
Farlegacy Land, LLC is a flooring contractor based in Reno, Nevada, classified under NAICS code 238330. The company financed real estate or equipment through an SBA 504 loan of $2,687,000, with Bank of America, National Association as the lending bank and Nevada State Development Corporation as the certified development company, approved on December 7, 2023.
SBA 504 loan, approved Dec 7, 2023
$2,687,000 SBA portionCDC: Nevada State Development Corporation25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $2,687,000
- Bank portion
- $3,284,000
- Estimated project size
- $6,634,444 (estimated)
- Estimated owner equity
- $663,444 (estimated, about 10% of the project)
- Bank lender
- Bank of America, National Association, Charlotte, NC
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- December 7, 2048 (estimated, approval date plus term)
- First disbursement
- Feb 14, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 35
- Business type
- Corporation
- NAICS
- 238330, Flooring Contractors
- Project location
- Washoe County, NV
- SBA district office
- Nevada District Office
- Congressional district
- NV-2
- Collateral
- Yes
Estimated share of project by source
Bank 49% SBA (CDC) 41% Owner 10%
- Average expansion loan in Flooring Contractors: $2,143,375.
- Average expansion loan in Nevada: $2,098,935.
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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