Loan to Buy Pearle Vision Center Franchise Issued By Merrill Merchants Bank

Borrowing money to invest in a Pearle Vision Center franchise? Merrill Merchants Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Orrington (orrington Corner), Maine needed money to invest in a Pearle Vision Center franchise back in 2005. Merrill Merchants Bank issued an SBA franchise loan. Here are the details on this Maine small business loan.

SBA Loan Borrower

PEARLE VISION EXPRESS
ORRINGTON (ORRINGTON CORNER), ME 04474

SBA Loan Lender

MERRILL MERCHANTS BANK
201 MAIN ST
BANGOR, ME 04401

The lender provided this SBA small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

5/25/2005

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

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 20 employees. The SBA loan application for the borrower indicated that the loan would help retain 20 existing jobs.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you 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.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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

Attracting Investors

SBA 7A Banks for Bangor, Maine Loans

Browse All Business Loan Sources for Maine