Loan to Buy Merle Norman Cosmetics Franchise Issued By Woodforest National Bank

Borrowing money to buy a Merle Norman Cosmetics franchise? Woodforest National Bank 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 2000 SBA franchise loan that you should know about. Woodforest National Bank was the lender and the entrepreneur was based in Tomball, Texas.

SBA Loan Borrower

MERLE NORMAN COSMETICS
TOMBALL, TX 77375

SBA Loan Lender

WOODFOREST NATIONAL BANK
7 SWITCHBUD PL, STE 198 C
THE WOODLANDS, TX 77380

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5999 - Retail Stores

Loan Approval Date

5/3/2000

Loan Approval Gross Amount

$92,400

Loan Approval from the SBA

Of the total $92,400 loan amount, the SBA guaranteed $73,920.

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 32 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.

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