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Uncle
Wally's, Inc. Obtains Loan To Make Muffins
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 When
you unwrap your banana nut, blueberry or favorite flavor muffin and
take a bite, you might like to know what has gone into the making
of that goodie. While Uncle Wally's, Inc. and United Baking Co., Inc.
have used some fine ingredients, but we're talking about something
you might not suspect is behind the of making of muffins. Big money.
These two entities, United Baking Co., Inc. the manufacturing end,
and Uncle Wally Amos, of Famous Amos Cookies, the image and marketing
end, have just received a loan for $6,119,000 from a consortium of
lenders, including Commerce Bank, New York Business Development Corporation,
American Equity Insurance Company and Long Island Development Corporation
through the SBA 504 Loan Program. This loan will be used to purchase
production line equipment for the muffin baking facility in the Shirley
Industrial Park.
"Long
Island Development Corporation was just one part of the equation,"
says Roslyn D. Goldmacher, President and C.E.O. of Long Island Development
Corporation. "We helped put together a Targeted Industry Loan
two years ago which helped the muffin manufacturer move from Bohemia,
Long Island to a larger factory in Shirley, also on Long Island, and
now we are again involved in funding capital improvements."
Wally
Amos, the cookie and muffin man, now spends most of his time on philanthropic
activities, especially literacy, his pet project. Muffins have provided
Uncle Wally with the means to help a broad spectrum of people. |
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