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GOV. CASEY ANNOUNCES $746,250 IN MINORITY BUSINESS LOANS

 GOV. CASEY ANNOUNCES $746,250 IN MINORITY BUSINESS LOANS
 HARRISBURG, Pa., April 23 /PRNewswire/ -- Gov. Robert P. Casey today


announced the approval of $746,250 in Pennsylvania Minority Business Development Authority (PMBDA) loans for six small business creation or expansion projects that are expected to create 44 jobs and preserve 28 jobs.
 The PMBDA board, chaired by state Commerce Secretary Andrew T. Greenberg, approved loans for three projects in Philadelphia and one each in Allegheny, Berks and Chester counties.
 "Investing in small businesses, which create the majority of new jobs, is one of the best ways to encourage economic growth," Casey said.
 The loans were awarded as follows:
 -- Allegheny County -- $75,000 to United Energy Consultants at Parkway One, a Pittsburgh petroleum engineering and geologic consulting firm specializing in oil and gas exploration. The company will use the loan for working capital. The $100,000 project is expected to create six jobs and preserve two jobs.
 -- Berks County -- $200,000 for the start-up of Greyline Technical Services in Bernville. The company, organized for HIV-AIDS virus research, will specialize in basic and analytic biologic research and enzyme biochemistry. The company also will conduct quantitative research on chemical and pharmaceutical agents. The company will use the loan to purchase a building and equipment and for working capital. The $267,000 project is expected to create 15 jobs.
 -- Chester County -- $71,250 to Quantum Geophysics at 901 Mill Grove Drive, Audubon. The company, a geophysics consulting firm specializing in locating underground storage tanks and evaluating groundwater resources, will use the loan to purchase equipment to service additional contracts. The $95,000 project is expected to create four jobs and preserve two jobs.
 -- Philadelphia County -- $100,000 for Bongiovanni Hospital and Surgical Supplies, 1444 S. Broad St. The loan will be used to acquire and expand an existing medical equipment supply business. The project is expected to create three jobs and preserve three jobs.
 -- Philadelphia County -- $200,000 to Kinzy Staley and Sons, 5017 Wakefield St. The company, which specializes in the construction and repair of highways and bridges, will use the loan for working capital to bid on additional contracts. The $269,000 project is expected to create 14 jobs and preserve 21 jobs.
 -- Philadelphia County -- $100,000 to start-up King Tu Inc., 4817 Woodland Ave. The company, which sells replacement windows, floor coverings and window blinds, will use the loan to purchase inventory and equipment and for working capital. The project is expected to create two jobs.
 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 Development Authority, 461 Forum Building, Harrisburg, Pa 17120.
 /delval/
 -0- 4/23/92
 /CONTACT: Dennis V. Curtin of the Department of Commerce, 717-783-1132/ CO: Pennsylvania Department of Commerce ST: Pennsylvania IN: SU:


CC -- PH052 -- 2144 04/23/92 16:50 EDT
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Publication:PR Newswire
Date:Apr 23, 1992
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