Virginia’s Blue Crab Bay Obtains PNC Bank Loan For Business Development
PITTSBURGH, Oct. 16, 2013 – PNC Bank, N.A., a member of The PNC Financial Services Group, Inc. (NYSE: PNC), today announces the closing of a nearly $865,000 combined term and credit loan to Melfa, Virginia-based Blue Crab Bay Co./Bay Beyond Inc. to foster business development and growth.
Bay Beyond Inc., founded by entrepreneur Pam Barefoot, is a wholesale distributor and parent company of Blue Crab Bay, selling to major national retailers as well as many specialty food and gift shops. Barefoot’s businesses manufacture and sell a broad array of coastal-inspired and award-winning products including seafood snacks and specialties, beverage mixers, gifts and soaps.
“PNC is committed to supporting women-owned businesses, and we look forward to seeing what’s next for Bay Beyond and continuing our longstanding 25-year relationship,” said Keith Lilliston, PNC’s business banker for the Peninsula region.
Barefoot, who is president of Blue Crab Bay Co./Bay Beyond Inc., also won the grand prize of a recent PNC sweepstakes to attend the 2013 Committee of 200 (C200) Annual Conference in New York City October 24-27. The C200 is a membership organization of the world’s most successful female entrepreneurs and corporate leaders, also awarding scholarships to the next generation of female business leaders.
The PNC Financial Services Group, Inc. (www.pnc.com) is one of the nation’s largest diversified financial services organizations, providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate banking and asset-based lending; wealth management and asset management.
SOURCE: The PNC Financial Services Group, Inc.