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April 28, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > G & K Husemann, Inc. Dba Merle Loan | ||||
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Business Loans for Troy Small Businesses
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Troy, OH Entrepreneur Gets SBA Loan to Buy Merle Norman Cosmetics FranchiseNeed money to invest in a Merle Norman Cosmetics franchise? Capital One 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 2005 SBA franchise loan that you should know about. Capital One was the lender and the entrepreneur was based in Troy, Ohio. SBA Loan Borrower G & K HUSEMANN, INC. DBA MERLE SBA Loan Lender CAPITAL ONE This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 812112 - Beauty Salons Loan Approval Date 1/28/2005 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 10 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 10 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Capital One and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 Participating Banks in Mclean, Virginia Browse All Business Loan Sources for Virginia
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