Wheaton, MD Entrepreneur Gets SBA Loan to Buy Pearle Vision Center Franchise

Borrowing money to purchase a Pearle Vision Center franchise? Chevy Chase Bank, F.S.B. has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Pearle Vision Center franchise? If so, here's a 2003 SBA franchise loan that you should know about. Chevy Chase Bank, F.S.B. was the lender and the entrepreneur was based in Wheaton, Maryland.

SBA Loan Borrower

PEARLE VISION EXPRESS
WHEATON, MD 20902

SBA Loan Lender

CHEVY CHASE BANK, F.S.B.
7501 WISCONSIN AVE
BETHESDA, MD 20814

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8042 - Offices and Clinics of Optometrists

NAICS Code

621320 - Optometrists

Loan Approval Date

10/30/2003

Loan Approval Gross Amount

$380,000

Loan Approval from the SBA

Of the total $380,000 loan amount, the SBA guaranteed $285,000.

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 13 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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

Determining Proper Capital Structure for a Business

Small Business Banks in Bethesda, Maryland

Getting an SBA Loan in Maryland