Albuquerque, NM Entrepreneur Gets SBA Loan to Buy Merle Norman Cosmetics Franchise

Need a loan to purchase a Merle Norman Cosmetics franchise? Main Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Merle Norman Cosmetics franchise requires some effort but others before you have been successful. In 2000, Main Bank issued an SBA franchise loan to an entrepreneur in Albuquerque, New Mexico. Because Merle Norman Cosmetics was registered with the SBA's registry of franchises, this New Mexico small business loan was issued on an expedited basis.

SBA Loan Borrower

OUTRAGEOUS FORTUNE,INC.
ALBUQUERQUE, NM 87110

SBA Loan Lender

MAIN BANK
2424 LOUISIANA BLVD NE
ALBUQUERQUE, NM 87110

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5947 - Gift, Novelty, and Souvenir Shops

NAICS Code

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

2/10/2000

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $20,000.

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. This SBA loan request did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This SBA loan was for $25,000. How would you spend $25,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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

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