THE WHITE HOUSE
Office of the Press Secretary
_________________________________________________________________
For Immediate Release December 30, 2000
December 30, 2000
MEMORANDUM FOR THE ADMINISTRATOR OF THE SMALL BUSINESS ADMINISTRATION
SUBJECT: Providing Loans to Small Businesses Facing High Energy Costs
Increased demand for energy and a colder than normal winter has led to
higher than normal energy costs. Because many small businesses lack
significant capital reserves, they may lack the resources or cash flow to
meet higher energy bills.
In order to assist such businesses, I am directing you to begin aggressive
outreach programs to potential borrowers, SBA lenders, and other partners
to make them aware of the SBA lending and technical assistance programs
that are available to assist small businesses that may need assistance in
meeting energy bills. SBA-guaranteed loans offer eligible small businesses
sufficient cash to continue to meet their immediate energy needs and will
allow them to spread their energy payments over a longer period than the
payment period typically provided by their vendors.
WILLIAM J. CLINTON
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