Louisiana Entrepreneur Secures Financing to Buy Merle Norman Cosmetics Franchise

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

An entrepreneur in River Ridge (census Name For L, Louisiana needed money to invest in a Merle Norman Cosmetics franchise back in 2006. Gulf Coast Bank & Trust issued an SBA franchise loan. Here are the details on this Louisiana small business loan.

SBA Loan Borrower

CYNTHIA'S GIFT & BOUTIQUE
RIVER RIDGE (CENSUS NAME FOR L, LA 70123

SBA Loan Lender

GULF COAST BANK & TRUST
200 ST. CHARLES AVE
NEW ORLEANS, LA 70130

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide 7A business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453998 - Store Retailers

Loan Approval Date

3/1/2006

Loan Approval Gross Amount

$134,700

Loan Approval from the SBA

Of the total $134,700 loan amount, the SBA guaranteed $114,495.

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 only one employee. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.

Getting an SBA Loan For Your Business

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Gulf Coast Bank & Trust and they will explain how you can get an SBA loan for your company.

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

Microlending as a Small Business Funding Source

SBA Participating Banks in New Orleans, Louisiana

SBA Louisiana Banks