Loan to Buy Merle Norman Cosmetics Franchise Issued By Heartland Bank & Trust

Borrowing money to buy a Merle Norman Cosmetics franchise? Heartland Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

If you live near Pekin, Illinois and are interested in buying a Merle Norman Cosmetics franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by Heartland Bank & Trust. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MERLE NORMAN COSMETIC STUDIO
PEKIN, IL 61554

SBA Loan Lender

HEARTLAND BANK & TRUST
3400 COURT ST
PEKIN, IL 61554

This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

10/2/2001

Loan Approval Gross Amount

$81,600

Loan Approval from the SBA

Of the total $81,600 loan amount, the SBA guaranteed $69,360.

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 business planned to use the money to hire new employees or retain any existing employees.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Heartland Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Heartland Bank & Trust 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.

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Merle Norman Cosmetics

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