Loan to Buy Merle Norman Cosmetics Franchise Issued By Bank Of America

Borrowing money to invest in a Merle Norman Cosmetics franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Pembroke Pines, Florida needed money to invest in a Merle Norman Cosmetics franchise back in 2000. Bank Of America issued an SBA franchise loan. Here are the details on this Florida small business loan.

SBA Loan Borrower

THE ASHLEY ROBIN CORPORATION
PEMBROKE PINES, FL 33388

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

SIC Code

5999 - Retail Stores

Loan Approval Date

6/23/2000

Loan Approval Gross Amount

$56,000

Loan Approval from the SBA

Of the total $56,000 loan amount, the SBA guaranteed $28,000.

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 23 employees. The loan application indicated that the loan would help generate 8 new jobs and retain 15 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We can help you find the best banks for small businesses in Pembroke Pines 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

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