Two firms said they will provide $10 million to a Vision OneCredit Union program that offers loans to optometrists looking tofinance first-time practice purchases, partnership buy-ins andrefinancing options.

A joint effort between the $53 million Vision One in Sacramento,Calif., Essilorof America Inc. and VSP Vision Care, the Vision Loans Program has distributed nearly $58 million since2003 in financial support to optometrists who want to enter privatepractice and those who want to successfully transitionout.

According to the program's partners, all loan payments are reinvested back into the program to ensurethe continued success and growth of private practice optometry.

Despite an uncertain economic outlook, demand for the programremains strong due to the unique capital loan access it provides,which can be difficult to obtain through traditional bank lenders,according to Essilor, a Dallas-based manufacturer of opticallenses.

Still, since the beginning of the recession, more than $37million in practice purchase loans have been funded, the companysaid.

Vision One said the partners have collectively committed toproviding $60 million to the Vision Loans program.

Howard Purcell, vice president of customer development atEssilor, said the dynamics of the optometric practice today presentsome unique challenges to graduating eyecare professionals. Thelatest commitment will help thousands more enter private practice,he added.

Stuart Thomas, VSP Global board chairman, said the Vision Loansprogram helps makes certain that independent optometry can grow andrenew itself year after year.

VSP is an eye care benefit plan provider based in Sacramento,Calif.

Founded in 1951, Vision One serves more than 2,000 members.