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Pa. Offers $1M Loan To Troubled Tastykake Maker

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HARRISBURG, Pa. (AP) – Gov. Ed Rendell says the state is prepared to offer the financially troubled manufacturer of snack foods line Tastykakes a $1 million loan.

Rendell said at a news conference Tuesday that Philadelphia-based Tasty Baking Co. hasn’t yet taken him up on the offer because it’s a portion of what they will need.

The company announced last week that several factors led it to consider its options, including a potential merger or sale.

Its statement said the company “is currently experiencing extremely tight liquidity.”

(© 2010 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed)

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