Which of the Following Is a Feature of the SBA

question 12

Multiple Choice

Which of the following is a feature of the SBA and Ex-Im Bank Coguarantee Program?

• A) It is an extension of the Export Working Capital Program and deals with expanding a business's export working capital lines up to $2 million.
• B) It is designed to assist businesses that might have been adversely impacted by NAFTA.
• C) It is designed to assist borrowers whose businesses are located in economically depressed regions of the country.
• D) It is designed to assist members of the US military who wish to create or expand a small business.
• E) It can provide for funds up to $500,000 worth of financing, which can be either a term loan or a line of credit.

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Definitions:

Typed Agreement

A formal contract that has been created and recorded in written form, usually typewritten, to outline specific terms and conditions between parties.

Writing Requirement

The legal principle that certain contracts or agreements must be recorded in written form to be legally enforceable.

Statute of Frauds

A rule of law that mandates specific kinds of agreements must be documented and signed by the involved parties to be legally binding.

Signed

A document or agreement that has been autographed by one or more individuals, indicating acceptance or confirmation of its contents.