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$379,000 IN MINORITY BUSINESS DEVELOPMENT LOANS APPROVED

 HARRISBURG, Pa., Jan. 28 /PRNewswire/ -- The board of the Pennsylvania Minority Business Development Authority (PMBDA) today approved $379,000 in loans that are expected to create 17 jobs and preserve 35 others at three small businesses in Philadelphia and one in Stroudsburg.
 According to state Commerce Secretary Andrew T. Greenberg, who chairs the PMBDA board, "These loans provide much-needed financing to minority entrepreneurs who are expanding their operations and creating new jobs."
 Following are the loans approved today:
 -- Stroudsburg -- $100,000 to Stroudsburg Pipe and Supply Co. The construction supply company, which is expanding into export markets, will use the loan to purchase inventory. The $133,000 project is expected to create three jobs and preserve four others.
 -- Philadelphia -- $100,000 to Fred's Hair Salon at 1505 Wadsworth Ave. The full-service hair salon and beauty school will use the loan to renovate and expand its existing facility. The $133,000 project is expected to create eight jobs and preserve 20 others.
 -- Philadelphia -- $125,000 to Imprints Unlimited Inc. at 5070 Parkside Ave. The commercial printing firm will use the loan to purchase inventory and
equipment and for working capital. The $155,000 project is expected to create three jobs and preserve five others.
 -- Philadelphia -- $54,000 to Ferrell's Franks. The full-service food company, which operates under the name of Gourmet Franks, will use the loan for renovations and equipment. The $72,000 project is expected to create three jobs and preserve six others.
 PMBDA loans may be used to purchase land or buildings, machinery and equipment and for working capital. The maximum loan amount is $200,000.
 For more information on PMBDA financing programs, contact the Pennsylvania Minority Business Development Authority, 461 Forum Building, Harrisburg, PA 17120.
 /delval/
 -0- 1/28/93
 /CONTACT: Dennis V. Curtin of the Pennsylvania Department of Commerce, 717-783-1132/


CO: Pennsylvania Department of Commerce ST: Pennsylvania IN: SU:

CC -- PH040 -- 0520 01/28/93 17:52 EST
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Date:Jan 28, 1993
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