Florida Entrepreneur Secures Financing to Buy Merle Norman Cosmetics Franchise

Need a loan to purchase a Merle Norman Cosmetics franchise? First Fed. Savings Bank - Florid 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 2003 SBA franchise loan that you should know about. First Fed. Savings Bank - Florid was the lender and the entrepreneur was based in Live Oak, Florida.

SBA Loan Borrower

MERLE NORMAN COSMETICS
LIVE OAK, FL 32064

SBA Loan Lender

FIRST FED. SAVINGS BANK - FLORID
707 SW MAIN BLVD
LAKE CITY, FL 32055

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

5999 - Retail Stores

NAICS Code

446120 - Cosmetics, Beauty Supplies, and Perfume Stores

Loan Approval Date

3/28/2003

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

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 2 employees. The loan application did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First Fed. Savings Bank - Florid are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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

Small Business Loan

SBA Approved Banks in Lake City, Florida

Getting an SBA Loan in Florida