Rochester, NY Entrepreneur Gets SBA Loan to Buy Merle Norman Cosmetics Franchise

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

Getting money to buy a Merle Norman Cosmetics franchise shouldn't be too tough. In 2007, The Bank Of Castile issued an SBA franchise loan to an entrepreneur in Rochester, New York. Because Merle Norman Cosmetics was registered with the SBA's registry of franchises, this New York small business loan was issued on an expedited basis.

SBA Loan Borrower

A BEAUTIFUL NEW YOU, INC.
ROCHESTER, NY 14624

SBA Loan Lender

THE BANK OF CASTILE
50 N MAIN ST
CASTILE, NY 14427

This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

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

NAICS Code

446120 - Cosmetics, Beauty Supplies, and Perfume Stores

Loan Approval Date

5/18/2007

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $17,500.

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 no employees. The SBA loan application for the borrower indicated that the borrowed money would help create 2 new jobs.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The Bank Of Castile that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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