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News Notices & Publications: Apparel company in Hanover receives financing from @SBAgov for its business expansion

Title

Apparel company in Hanover receives financing from @SBAgov for its business expansion

Announcement Type

News

Date Published

4/24/2012

Regional Spotlight

No

Short Description

Moves from hats to jewelry to wide variety of accessories

Body

 

The Small Business Administration (SBA) has provided financing in the amount of $460,000 for the expansion of an apparel and related accessories firm in Hanover, Pennsylvania.  Legacy Athletic purchased a 3.9-acre property, renovated the existing building, and added 23,141 square feet.  The building contains Legacy’s light manufacturing space, warehouse, and offices. 

 

In addition to SBA, project financing involved ACNB Bank, the Pennsylvania Industrial Development Authority, and cash equity from the borrowers. 

 

Legacy was founded in 1992 and originally focused on selling vintage-style baseball caps to Pennsylvania colleges.  It has since expanded into many styles of headwear, as well as jewelry and other personal accessories.  Accessories have become their fastest growing segment, and additional products are being manufactured at Legacy’s new location. 

 

The project is expected to create three full-time and five part-time jobs at the company.  The SBA 504 loan for Legacy’s expansion project was approved by the SEDA-COG Local Development Corporation before submission to SBA for final action. 

 

For more information on SEDA-COG's Business Development Financing program, contact John Reichard at 570-524-4491, ext. 7251, e-mail jreichard@seda-cog.org, or visit us on the web at www.seda-cog.org/finance

 

 

Expires

10/24/2013

Keywords

legacy athletic SBA

Attachments

Created at 4/24/2012 4:35 PM by Public Information
Last modified at 5/14/2012 9:27 AM by Public Information