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PMBDA APPROVES LOANS FOR ADAMS AND ALLEGHENY COUNTIES

 HARRISBURG, Pa., Nov. 20 ~PRNewswire~ -- State Commerce Secretary Andrew T. Greenberg announced today the approval of $151,000 in Pennsylvania Minority Business Development Authority (PMBDA) loans for small businesses in Adams and Allegheny counties.
 The projects are expected to create 11 jobs and preserve eight others.
 "We're using our resources to help minority entrepreneurs create jobs and opportunities at a time when they are hard to come by," Greenberg said.
 The loans were approved for the following projects:
 -- Adams County -- $80,000 to the C.I.C. Financial Group of 271 W. King St., Abbottstown. C.I.C. Financial, an insurance and financial service firm, will use the loan to purchase equipment and furniture and to hire additional staff. The $133,000 project is expected to create five jobs and preserve three others.
 -- Allegheny County -- $71,000 to Renaissance Too of 1418 Faulsey Way, Pittsburgh. The printing and publishing company will use the loan to purchase the building it currently leases. The $157,800 project is expected to create six jobs and preserve five 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 Development Authority, 461 Forum Building, Harrisburg, Pa., 17120.
 -0- 11~20~92
 ~CONTACT: Dennis V. Curtin of the Department of Commerce, 717-783-1132~


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

MK -- PH027 -- 3411 11~20~92 13:45 EST
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Publication:PR Newswire
Date:Nov 20, 1992
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