Regions Bank Provides SBA Loan to Buy Merle Norman Cosmetics Franchise

Borrowing money to buy a Merle Norman Cosmetics franchise? Regions Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Miami, Florida needed money to invest in a Merle Norman Cosmetics franchise back in 2004. Regions Bank issued an SBA franchise loan. Here are the details on this Florida small business loan.

SBA Loan Borrower

MERLE NORMAN
9777 NW 41 STREET
MIAMI, FL 33178

SBA Loan Lender

REGIONS BANK
6200 POPLAR AVE
MEMPHIS, TN 38119

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.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

4/1/2004

Loan Approval Gross Amount

$95,000

Loan Approval from the SBA

Of the total $95,000 loan amount, the SBA guaranteed $80,750.

More Information on This SBA Loan

The borrower, Merle Norman, 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 company promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

We can help you find the best banks for small businesses in Miami or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

Merle Norman Cosmetics

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