Loan to Buy Merle Norman Cosmetics Franchise Issued By Reliance Bank

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

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

SBA Loan Borrower

MERLE NORMAN (SELINA'S COSMETI
ATHENS, AL 35611

SBA Loan Lender

RELIANCE BANK
112 N JEFFERSON ST
ATHENS, AL 35611

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

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

6/14/2004

Loan Approval Gross Amount

$38,000

Loan Approval from the SBA

Of the total $38,000 loan amount, the SBA guaranteed $32,300.

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

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $38,000 loan. Remember, things become real when you believe you can achieve them!

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

How Equity Dilution Works

SBA 7A Banks for Athens, Alabama Loans

Alabama SBA Banks