South Carolina Entrepreneur Secures Financing to Buy Merle Norman Cosmetics Franchise
Borrowing money to buy a Merle Norman Cosmetics franchise? Branch Bank & Trust has a history of making these loans and they are guaranteed by the SBA.
Merle Norman Cosmetics franchise loans are available to Spartanburg, South Carolina entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Branch Bank & Trust, based in Winston Salem, North Carolina, issued an SBA franchise loan for a Merle Norman Cosmetics franchise in 2006. We've got all the details on this South Carolina small business loan.
SBA Loan Borrower
CYNTHIA D. FORRESTER COSMETICS, LLC
Spartanburg, SC 29301
SBA Loan Lender
BRANCH BANK & TRUST
200 W 2ND ST
WINSTON SALEM, NC 27101
This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
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
8/23/2006
Loan Approval Gross Amount
$148,000
Loan Approval from the SBA
Of the total $148,000 loan amount, the SBA guaranteed $125,800.
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. The loan application indicated that the loan would help generate 1 new job and retain 2 existing jobs.
Next Steps for Getting an SBA Loan
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Branch Bank & Trust 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
Obtaining Funding - Getting Venture Capital
SBA Approved Banks in Winston Salem, North Carolina
SBA Lenders in North Carolina