Loan to Buy Merle Norman Cosmetics Franchise Issued By First Fed. A Division - Washin

Borrowing money to buy a Merle Norman Cosmetics franchise? First Fed. A Division - Washin has a history of making these loans and they are guaranteed by the SBA.

Merle Norman Cosmetics franchise loans are available to El Paso, Texas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, First Fed. A Division - Washin, based in Roswell, New Mexico, issued an SBA franchise loan for a Merle Norman Cosmetics franchise in 2005. We've got all the details on this Texas small business loan.

SBA Loan Borrower

FABI'S BEAUTE
EL PASO, TX 79904

SBA Loan Lender

FIRST FED. A DIVISION - WASHIN
300 N PENNSYLVANIA AVE
ROSWELL, NM 88201

This lender issued this business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

8/8/2005

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

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 5 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Fed. A Division - Washin 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

Debt Financing

SBA 7A Banks for Roswell, New Mexico Loans

SBA Lenders in New Mexico