Charlotte, NC Entrepreneur Gets SBA Loan to Buy Merle Norman Cosmetics Franchise

Borrowing money to buy a Merle Norman Cosmetics franchise? Bank Of Granite has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Merle Norman Cosmetics franchise shouldn't be too tough. In 2005, Bank Of Granite issued an SBA franchise loan to an entrepreneur in Charlotte, North Carolina. Because Merle Norman Cosmetics was registered with the SBA's registry of franchises, this North Carolina small business loan was issued on an expedited basis.

SBA Loan Borrower

MERLE NORMAN
CHARLOTTE, NC 28206

SBA Loan Lender

BANK OF GRANITE
23 N MAIN ST
GRANITE FALLS, NC 28630

This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

446120 - Cosmetics, Beauty Supplies, and Perfume Stores

Loan Approval Date

6/10/2005

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $40,000.

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 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs.

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

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Bank Of Granite so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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

Financing Your Business

SBA 7A Banks in Granite Falls, North Carolina

North Carolina SBA Bank Lenders