Medical Products Laboratories Inc. has been approved for a $472,500 loan with an interest rate of 1.5 percent through the Pennsylvania Industrial Development Authority to help buy a building near its operations in the Bustleton section of Philadelphia.

The privately held company will buy an existing 22,900-square-foot building as part of a $1.03 million project that will create 14 jobs and retain 148 employees, according to a statement by the Corbett administration.

Medical Products Laboratories calls itself one of the largest U.S. manufacturers of fluoride mouth rinses used in schools.

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