Vision Benefits of America Expanding Its $1 Million Interest Free Loan Program Assisting Independent Optometric Practices
Funds will Support Optometric Businesses Impacted by COVID-19
PITTSBURGH, May 6, 2020 (Newswire.com) - Vision Benefits of America, Inc. (VBA), a commercial group benefits organization, today announced greater access to its initiative. The Pennsylvania Optometric Emergency Assistance Program is designed to assist optometry businesses facing unprecedented challenges due to the outbreak of the novel coronavirus (COVID-19).
“VBA is proud to expand the reach of the POEAP to also support optometrists in New Jersey and Ohio,” said Jeff Hollowood, President and CEO of VBA. “After seeing tremendous response to the original program in Pennsylvania, VBA is privileged to offer funds totaling at least $1 million for continuation of business operations to more optometric practices in our network.”
The POEAP is now open to any independent optometry practice located in New Jersey, Ohio or Pennsylvania with payments from VBA totaling $5,000 or more in 2019. Interest-free loans will be available in the amounts of $7,500, $10,000, $15,000 or $25,000 and can be repaid over a 24-month period beginning in January of 2021.
“While governmental restrictions against the performance of elective procedures are just starting to be lifted in some areas, we know many of our providers will still need access to cash for purposes of restoring operations,” said Hollowood. “During these challenging times, it is important that we support as many of our local businesses as possible in recognition of the great work that they do in our communities and for our members.”
As a nonprofit, VBA was founded by independent optometrists in the state of Pennsylvania to offer low-cost eyecare to Pennsylvania residents. Today, VBA’s mission is to improve the human experience by utilizing innovative models of service, delivery and advocacy to reduce barriers to highquality eyecare. With an eye on its roots, VBA developed the Pennsylvania Optometric Emergency Assistance Program in order to help independent optometrists continue to offer high-quality eyecare to residents of New Jersey, Ohio and Pennsylvania.
VBA is reaching out to each eligible practice this week to provide more information regarding the enhanced program and the next steps toward obtaining an interest-free loan.
Founded in 1965 as one of the first preferred provider organizations (PPO) in the nation, VBA has proudly offered group vision benefits to corporations, municipalities, schools, health and welfare funds, hospitals and health maintenance organizations for over 50 years. Seeking to capitalize on its experience and expand its offerings beyond vision, VBA also provides cost-effective dental solutions across the nation through plans administered and underwritten by the TruAssure Insurance Company. Some plans may not be available in all states. For information, please visit www.vbaplans.com.
Contact: Emily Shrader
Telephone: 412-881-4900 x 232