Legends Bank

This is a financial institution offering SBA loan programs designed to help small businesses access capital for growth and operations. You can find expert guidance, flexible financing options, and support tailored to your business needs. Whether you're starting out or expanding, they provide the resources to help your business succeed.

It's recommended to schedule an appointment to ensure dedicated time with a loan specialist, but walk-ins are also welcome during business hours. Calling ahead can help streamline your visit and prepare the necessary documentation.

The bank operates from 9:00 AM to 5:00 PM, Monday through Friday. It's advisable to call ahead to confirm hours or to schedule an appointment outside regular hours if needed.

There are no fees for simply consulting or applying for SBA loans, but certain service fees or closing costs may apply depending on the loan terms. It's best to review the specific loan agreement for detailed fee information.

This bank primarily serves small business owners and entrepreneurs within its regional area, but eligibility for SBA loans is based on creditworthiness and business qualification, not residency alone.

A minimum personal credit score of around 640 is generally preferred, though higher scores can improve approval chances and loan terms.

The underwriting process typically takes between 30 to 60 days, depending on the complexity of the application and completeness of documentation.

Most banks keep weekday business hours and are closed on weekends, and Legends Bank typically follows the same pattern. SBA lending staff are generally reachable Monday through Friday. A few locations offer Saturday or by-appointment hours, so call Legends Bank to confirm current weekend availability before you go.

Legends Bank is located in Tennessee — see the contact card for the full address. Most bank locations offer free on-site or nearby street parking for visitors. For exact directions, the entrance, and accessible parking, use the listed address or call ahead and staff can point you to visitor spaces.

This page is an independent directory listing for Legends Bank, an SBA-participating bank. It is maintained by SBA Lenders USA to help borrowers compare lenders — not by Legends Bank itself, which runs its own lending under its own ownership. If you work at Legends Bank, you can claim this listing from this page to manage it.

The core details for Legends Bank — name, location, contact, and lender type — are compiled from public records and reviewed periodically. Rates, programs, credit policies, and hours change often and are not guaranteed here, so always confirm the latest terms directly with Legends Bank before applying. If you represent Legends Bank, claim this listing to keep its information up to date.

You can reach Legends Bank by phone at (931) 503-1695 or through their contact form at legendsbank.com/contact-us/ — confirm hours and SBA loan availability directly with their business lending department.

Based on its approved SBA loans, Legends Bank most often finances businesses in medical practices & clinics, general retail, restaurants & food service, and manufacturing. This reflects Legends Bank's real SBA 7(a) and 504 lending history rather than a stated policy — it can still consider other industries and sets its own current preferences, so confirm with Legends Bank which sectors it actively lends to before you apply.

SBA Express offers lines of credit and term loans up to $500,000 with a faster turnaround than standard 7(a) loans. Whether Legends Bank participates in SBA Express depends on its specific SBA lending authority. Contact Legends Bank and ask if it offers SBA Express and what the current limits and terms look like for your situation.

SBA Preferred Lender Program (PLP) status lets a lender approve loans in-house without sending each one to the SBA first, which usually means faster decisions. Many established banks hold PLP status, but it varies by institution. Legends Bank can confirm its current PLP standing — ask before you apply if speed matters to you.

The SBA does fund start-ups, but many traditional lenders prefer at least two years of operating history and may ask newer ventures for a larger equity injection or stronger collateral. Legends Bank's appetite for start-ups is set by its own credit policy. If you are early-stage or pre-revenue, ask Legends Bank directly whether it considers start-up loans.

For SBA 7(a) and 504 commercial real estate loans, borrowers typically contribute around 10% to 20% as a down payment or equity injection, depending on the property and the deal. Exact requirements vary with your credit, the business, and the lender's policy. Ask Legends Bank what down payment it expects for your specific commercial real estate purchase.

SBA 7(a) loans with terms under 15 years generally carry no prepayment penalty, while longer real estate loans can have one in the early years. Short-term working capital lines often have no penalty, but terms vary by lender. Review your loan agreement and ask Legends Bank to spell out any prepayment penalties before you sign.

SBA loans can be used for a partner or owner buyout, including buying out an existing equity partner, when the deal is structured to meet SBA rules — for example, the remaining owner generally must stay actively involved. Approval depends on the specifics, so discuss your buyout plan with Legends Bank to confirm it qualifies and how to document it.

A past personal bankruptcy does not automatically disqualify you from an SBA loan. Lenders look at how long ago it was discharged, the circumstances, and how your credit has recovered since. Legends Bank weighs this case by case under its own policy, so be upfront about your history and ask Legends Bank how it evaluates prior bankruptcies.