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

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

Getting money to buy a Merle Norman Cosmetics franchise may simply require a phone call to a local SBA banker. In 2000, First Fed. A Division - Washin issued an SBA franchise loan to an entrepreneur in El Paso, Texas. Because Merle Norman Cosmetics was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

MERLE NORMAN COSMETICS-NORTHEA
EL PASO, TX 79924

SBA Loan Lender

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

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2844 - Perfumes, Cosmetics and Beauty Products

Loan Approval Date

4/6/2000

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $40,000.

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 documents did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We can help you find the best banks for small businesses in El Paso or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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

Getting a Small Business Loan

Find an SBA Lender in Roswell, New Mexico

SBA Lenders in New Mexico