Texas Entrepreneur Secures Financing to Buy Merle Norman Cosmetics Franchise

Borrowing money to invest in a Merle Norman Cosmetics franchise? First Finan Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Abilene, Texas needed money to invest in a Merle Norman Cosmetics franchise back in 2004. First Finan Bank issued an SBA franchise loan. Here are the details on this Texas small business loan.

SBA Loan Borrower

MERLE NORMAN COSTETICS
ABILENE, TX 79606

SBA Loan Lender

FIRST FINAN BANK
400 PINE ST
ABILENE, TX 79601

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

446120 - Cosmetics, Beauty Supplies, and Perfume Stores

Loan Approval Date

10/19/2004

Loan Approval Gross Amount

$62,000

Loan Approval from the SBA

Of the total $62,000 loan amount, the SBA guaranteed $52,700.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Merle Norman Cosmetics franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Merle Norman Cosmetics

Business Line of Credit

Banks in Abilene, Texas

SBA Lenders in Texas