Charlotte, NC Entrepreneur Gets SBA Loan to Buy Pearle Vision Center Franchise

Need a loan to buy a Pearle Vision Center franchise? Bank Of America has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Pearle Vision Center franchise may simply require a phone call to a local SBA banker. In 2006, Bank Of America issued an SBA franchise loan to an entrepreneur in Charlotte, North Carolina. Because Pearle Vision Center was registered with the SBA's registry of franchises, this North Carolina small business loan was issued on an expedited basis.

SBA Loan Borrower

IN-HOME-OPTICAL, INC. DBA PEARLE VISION
CHARLOTTE, NC 28217

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

This lender processed this debt financing under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

446130 - Optical Goods Stores

Loan Approval Date

8/31/2006

Loan Approval Gross Amount

$77,000

Loan Approval from the SBA

Of the total $77,000 loan amount, the SBA guaranteed $38,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Pearle Vision Center franchise. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help retain 5 existing jobs.

Next Steps for Getting an SBA Loan

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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Pearle Vision

Obtaining Funding - How to Decide How Much to Raise

Small Business Banks in Charlotte, North Carolina

Getting an SBA Loan in North Carolina