Fast Lane
Y2K relief
Smart Business Akron/Canton | June 1999
The U.S. Small Business Administration is offering Y2K Action Loans to small business that need financial assistant to address their Y2K compliancy problems.
“Y2K is an issue that every small business must address; however, potential repair costs should not be a reason to avoid preparing for the Y2K challenge,” says SBA Administrator Aida Alvarez.
The lending program, which is part of the SBA’s 7(a) program, was authorized by the Small Business Year 2000 Readiness Act, signed into law in April by President Clinton. The SBA will guarantee up to $750,000 of a bank loan made for Y2K purposes, and the loans are available through Dec. 31, 2000.
For more information, call the SBA Cleveland District Office at (216) 522-4180.
