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Legacy Academy for Children – Smyrna

Smyrna, GA · Child Care Services · NAICS 624410

Legacy Academy for Children, located in Smyrna, Georgia, operates in the child care services industry (NAICS 624410). The business financed real estate or equipment through an SBA 504 loan of $2,003,000, with the loan approved on April 3, 2024, through First-Citizens Bank & Trust Company and the Georgia Certified Development Corporation. The loan report lists 34 jobs and a business that is existing or more than 2 years old.

SBA 504 loan, approved Apr 3, 2024

$2,003,000 SBA portionCDC: Georgia Certified Development Corporation25 years termStatus not reported (SBA exemption)Loan details
SBA (CDC) portion
$2,003,000
Bank portion
$2,096,000
Estimated project size
$4,554,444 (estimated)
Estimated owner equity
$455,444 (estimated, about 10% of the project)
Bank lender
First-Citizens Bank & Trust Company, Raleigh, NC
CDC
Georgia Certified Development Corporation
Processing method
504 Refinancing: refinances existing business debt
Term
25 years (300 months)
Estimated maturity
April 3, 2049 (estimated, approval date plus term)
First disbursement
Jul 17, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
34
Business type
Corporation
NAICS
624410, Child Care Services
Project location
Cobb County, GA
SBA district office
Georgia District Office
Congressional district
GA-11
Collateral
Yes

Estimated share of project by source

Bank 46% SBA (CDC) 44% Owner 10%

  • Larger than 57% of expansion loans in Child Care Services on this site.
  • Average expansion loan in Child Care Services: $1,977,874.
  • Average expansion loan in Georgia: $2,201,121.

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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Same industry in Georgia