Main Street Registry

Legendary Insurance Solutions LLC

Lewisville, TX · Insurance Agencies and Brokerages · NAICS 524210

Legendary Insurance Solutions LLC is an insurance agency and brokerage located in Lewisville, Texas, in the insurance agencies and brokerages industry. The company was financed with an SBA 7(a) loan for a change of ownership of $820,000, approved on May 17, 2024, through Live Oak Banking Company.

SBA 7(a) loan, change of ownership, approved May 17, 2024

$820,000 approvedLender: Live Oak Banking Company10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$820,000
SBA-guaranteed amount
$615,000 (75% of the approval)
Lender
Live Oak Banking Company, Wilmington, NC
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
9.97%, variable
Term
10 years (120 months)
Estimated maturity
May 17, 2034 (estimated, approval date plus term)
Estimated monthly payment
$10,823 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jun 7, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
3
Business type
Corporation
NAICS
524210, Insurance Agencies and Brokerages
Project location
Denton County, TX
SBA district office
Dallas / Ft Worth District Office
Congressional district
TX-24
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 33% of acquisition loans in Insurance Agencies and Brokerages on this site.
  • Average acquisition loan in Insurance Agencies and Brokerages: $1,528,335.
  • Average acquisition loan in Texas: $1,944,682.

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 Texas