Borrow Money to Buy a Merle Norman Cosmetics Franchise

Need money to buy a Merle Norman Cosmetics franchise? Minority Invest Devel Corp. has a history of making these loans and they are guaranteed by the SBA.

If you live near Cranston, Rhode Island and are interested in buying a Merle Norman Cosmetics franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2006 by Minority Invest Devel Corp.. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MERLE NORMAN COSMETIC STUDIO
CRANSTON, RI 02920

SBA Loan Lender

MINORITY INVEST DEVEL CORP.
216 WEYBOSSET ST., STE. 2
PROVIDENCE, RI 02903

This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

3/22/2006

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

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 small business promised to use the money to hire new employees or retain any existing employees.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Minority Invest Devel Corp. that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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

Banks in Providence, Rhode Island

SBA Participating Banks in Rhode Island