Loan to Buy Merle Norman Cosmetics Franchise Issued By State Bank Of Lincoln

Need a loan to invest in a Merle Norman Cosmetics franchise? State Bank Of Lincoln has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Merle Norman Cosmetics franchise? If so, here's a 2005 SBA franchise loan that you should know about. State Bank Of Lincoln was the lender and the entrepreneur was based in Decatur, Illinois.

SBA Loan Borrower

MERLE NORMAN COSMETICS STUDIO
DECATUR, IL 62522

SBA Loan Lender

STATE BANK OF LINCOLN
508 BROADWAY
LINCOLN, IL 62656

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

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

10/4/2005

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $55,250.

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 indicated that the borrowed money would help create 2 new jobs.

Next Steps for Getting an SBA Loan

If you need money to start business in Decatur IL, you ought to talk with a local Decatur SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Decatur businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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Best Banks for Small Business in Lincoln, Illinois

Getting a Business Loan in Illinois