Grow Tracy Fund Awarded
Posted: Dec 20, 2011
December 20, 2011- Tracy Optometry Group, located in downtown Tracy, has been awarded a loan under the Grow Tracy Fund. The Grow Tracy Fund is a partnership between the City of Tracy and the Grow America Fund, a subsidiary of the National Development Council (NDC). NDC works in partnership with local, state governments and non-profit organizations to help them build their communities and economies. The City of Tracy provided one million dollars of seed capital to establish the Grow Tracy Fund and NDC will leverage the fund to provide capacity of approximately four million dollars to fund small businesses here in Tracy.
Tracy Optometry Group, Inc. is a full service optometry practice incorporated in 2004 and owned by Dr. David Moline and Dr. Brian Yee. The Tracy Optometry Group established in 1984 and been operating at its current location, 36 W. 10th Street in Tracy, CA since 1995. The services provided include diagnostic eye exams, Optomap retinal exams, contact lenses fittings, ocular disease diagnostics, trauma treatments, glaucoma treatments and pediatric vision care. Tracy Optometry Group currently employs 13 full time employees and operates out of 2,866 square feet of office space with four exam rooms and one diagnostic room.
The substantial loan from the Grow America Fund to Tracy Optometry Group is for tenant improvements, furniture, fixtures, equipment, and a contingency allowance to support an upcoming expansion into a larger office space. Tracy Optometry Group has signed a draft lease proposal to take over an additional 1,026 square feet of office space in the unit adjacent to its current location. By adding capacity to the existing practice, Tracy Optometry Group can increase the number of patients it can accommodate on a daily basis and continue to grow annual revenues.
Dr. Moline stated, “I know we got the best loan. A 3.25% 14-year term, there is no beating that, I know; I checked with other SBA lenders! Our loan was the best loan they had seen as well. For us it was all worth it!”
Development and Engineering Services
City Of Tracy
T. (209) 831-6490