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April 28, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Houston, Business Loans > Franklin Bank S.S.B. Houston Business Loans > Merle Norman Cosmetics #384115 Loan | ||||
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Raising Money in Austin, Texas With SBA Loans
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Austin, TX Entrepreneur Gets SBA Loan to Buy Merle Norman Cosmetics FranchiseBorrowing money to invest in a Merle Norman Cosmetics franchise? Franklin Bank S.S.B. has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Merle Norman Cosmetics franchise requires some effort but others before you have been successful. In 2000, Franklin Bank S.S.B. issued an SBA franchise loan to an entrepreneur in Austin, Texas. Because Merle Norman Cosmetics was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis. SBA Loan Borrower MERLE NORMAN COSMETICS #384115 SBA Loan Lender FRANKLIN BANK S.S.B. This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5912 - Drug Stores and Proprietary Stores NAICS Code 446120 - Cosmetics, Beauty Supplies, and Perfume Stores Loan Approval Date 11/14/2000 Loan Approval Gross Amount $99,000 Loan Approval from the SBA Of the total $99,000 loan amount, the SBA guaranteed $79,200. 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 3 employees. The SBA loan documents did not indicate that the business promised to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: SBA 7A Banks for Houston, Texas Loans SBA Participating Banks in Texas
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