DALLAS— Essilor of America and VSP Vision Care have increased their support of independent eyecare professionals by committing an additional $5 million each to the Vision Loans Program, which provides loans to optometrists looking to finance first-time practice purchases, partnership buy-ins and refinancing options.

The Vision Loans Program is a joint effort between Vision One Credit Union, Essilor and VSP. Since its launch in 2003, the program has distributed nearly $58 million in financial support to optometrists who want to enter private practice and those who want to successfully transition out. All loan payments are reinvested back into the program to ensure the continued success and growth of private practice optometry.

“Supporting the Vision Loans Program is an important way for us to help optometrists remain independent and competitive in this changing marketplace,” said Howard Purcell, OD, vice president of customer development at Essilor. “The dynamics of the optometric practice today present some unique challenges to graduating ECPs. This added commitment will help thousands more enter private practice, and we are glad to provide that support.” Vision Loans provide funds for first-time buyers interested in partnership buy-ins, practice purchases, down payments on a practice and practice refinance.

“Innovative offerings like the Vision Loans Program help make certain that independent optometry can grow and renew itself year after year,” said VSP Global’s chairman of the board Stuart Thomas, OD. “We’re committed to exploring and supporting initiatives that keep independent ECPs thriving.”