Kentucky Entrepreneur Secures Financing to Buy Merle Norman Cosmetics Franchise

Need money to purchase a Merle Norman Cosmetics franchise? Fnb Bank, Inc. 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 2004 SBA franchise loan that you should know about. Fnb Bank, Inc. was the lender and the entrepreneur was based in Paducah, Kentucky.

SBA Loan Borrower

MERLE NORMAN
PADUCAH, KY 42001

SBA Loan Lender

FNB BANK, INC.
101 E BROADWAY ST
MAYFIELD, KY 42066

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

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

5/10/2004

Loan Approval Gross Amount

$46,900

Loan Approval from the SBA

Of the total $46,900 loan amount, the SBA guaranteed $39,865.

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 did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

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

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Fnb Bank, Inc. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Fnb Bank, Inc. made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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