COVID-19 relief options and additional resources
LEARN MORE Close

SBA Ribbon Cutting Celebrates New Franchise Turning On The Lights

Advisory Date: 
Thursday, October 16, 2014
Advisory Number: 
20141016-001
Contact: 
Robert Goza (610) 382-3084 | robert.goza@sba.gov
SBA-backed loan from Firstrust helps “Batteries+Bulbs” get started

READING, PA– The U.S. Small Business Administration holds a ribbon-cutting celebration Oct. 20 to mark the successful start-up of Kathy and Shane Young’s “Batteries+Bulbs” franchise at 3330 North Fifth Street Highway, Reading, PA.

“America’s small businesses are the engine of our economy. They create two out of three net new private sector jobs and half of all working Americans either own or work for a small business,” said SBA mid-Atlantic Regional Administrator Natalia Olson-Urtecho. “It is so wonderful to see entrepreneurs from communities all across the mid-Atlantic, like Kathy and Shane Young who, by following their American dream are driving innovation and are creating a stronger economy across our nation.”

WHAT: SBA ribbon-cutting celebration for start-up of new “Batteries+Bulbs” franchise

WHO:    Mark Quinn, Acting SBA Philadelphia District Director

             Carl Bieber, SBA Finance Department Director of Business Development, Firstrust bank

             Kathy and Shane Young, owners, Batteries+Bulbs

WHEN: 11 a.m. Oct. 20, 2014

WHERE: Batteries+Bulbs, 3330 North Fifth Street Highway, Reading, PA 19605 (610-929-1063)

"SBA’s 7a loan program, in participation with our lending partner Firstrust bank, makes projects like this one possible," said Acting SBA Philadelphia District Director Mark Quinn. "At SBA our mission is to help small businesses start, grow and succeed. We are pleased to be able to help entrepreneurs like the Youngs start their business."

“The Youngs displayed all the necessary skills and knowledge to run a successful business model,” said Carl Bieber, SBA Finance Department Director of Business Development, Firstrust Bank. “Shane and Kathy are experienced business owners who are making both a personal and fiscal commitment to the success of Batteries+Bulbs.”

“From the time we decided to purchase the property on 5th Street Highway we were given Carl's name by the realtor for an SBA loan,” said Kathy Young, Batteries+Bulbs owner. “Carl immediately came to our former place of business and started the process with us. He ‘held our hand’ so to speak through the whole process with Firstrust up to and including settlement.”

SBA's Philadelphia District Office helps small businesses start, grow and succeed in the 40 eastern counties Pennsylvania. The SBA 7a loan program is a powerful and flexible loan program that offers small businesses another avenue for business financing, while promoting business growth, and job creation.

About the U.S. Small Business Administration

Since its founding more than a half-century ago as an independent federal agency of the U.S. government to “aid, counsel, assist, and protect, insofar as is possible, the interests of small business concerns,” the U.S. Small Business Administration has delivered about 24 million loans, loan guarantees, contracts, counseling sessions and other forms of assistance to small businesses. SBA also helps people recover from disasters and rebuild their lives by providing affordable, timely and accessible financial assistance to homeowners, renters and businesses and works to ensure small businesses receive a “fair proportion” of government contracts.

About Firstrust Bank

Founded in 1934 and currently in its third generation of family ownership, Firstrust is a privately-held bank with assets of $2.5 billion. Firstrust is a Small Business Administration (SBA) preferred lender, and provides both retail and commercial services through its 20 banking offices located in Bucks, Burlington, Chester, Lehigh, Montgomery and Philadelphia counties. Continuing to meet the needs of its customers, Firstrust offers a wide variety of deposit products, consumer and business loan options, residential and commercial real estate mortgages and cash-management products. For more information, visit firstrust.com or call 800-220-BANK. Member FDIC.

About Batteries+Bulbs

Batteries Plus Bulbs opened its first store in 1988 in Green Bay, Wisconsin to respond to the evolving needs of the replacement battery market and began franchising in 1992 with its first franchise-owned store in Fort Wayne, IN. The increasing demand for “specialty” and replacement batteries, combined with a reputation for solving battery problems, has led to adding light bulbs to the model of the all-battery franchise concept for the nation’s largest, fastest-growing battery and light bulb franchise.

###