Louisiana Entrepreneur Secures Financing to Buy Merle Norman Cosmetics Franchise

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

Getting money to buy a Merle Norman Cosmetics franchise is doable. In 2004, Hancock Bank issued an SBA franchise loan to an entrepreneur in Clinton, Louisiana. Because Merle Norman Cosmetics was registered with the SBA's registry of franchises, this Louisiana small business loan was issued on an expedited basis.

SBA Loan Borrower

MERLE NORMAN COSMETIC STUDIO A
CLINTON, LA 70722

SBA Loan Lender

HANCOCK BANK
2510 14TH ST
GULFPORT, MS 39501

This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

8/20/2004

Loan Approval Gross Amount

$35,175

Loan Approval from the SBA

Of the total $35,175 loan amount, the SBA guaranteed $17,587.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 application for the borrower indicated that the loan would help generate 1 new job and retain 1 existing job.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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

Equity Financing

SBA Banks in Gulfport, Mississippi

Mississippi SBA 7A Lenders