ROYAL BANK GETS BUSINESSES SET FOR THE MILLENNIUM
By Adnews Staff
The Royal Bank of Canada is helping small businesses exterminate the millennium bug. The bank launched three loans last week that will allow small businesses to borrow up to $100,000 at prime to make their business Year 2000 ready. The loans available are the variable rate Term Loan, which covers up to 100% of the business's Year 2000 financial costs for up to three years; a fixed-rate Equipment Lease, which covers up to 100% of the business's Year 2000 equipment needs for up to three years and the government-guaranteed Royal Small Business Loan, which covers up to 90% of financing for eligible Year 2000 expenses, with flexible terms of up to five years. The Royal Bank hasn't confirmed advertising plans for the Year 2000 loans, but does plan on advertising all of its Year 2000 offerings.