Qualified Small Businesses That Cannot Obtain Business Loans Through Normal

question 112

True/False

Qualified small businesses that cannot obtain business loans through normal lending channels can get loans directly from the SBA through its 7(a) Loan Guaranty Program.

---

Definitions:

Average Total Costs

The overall expense of creating goods divided by the number of items produced.

Output

The quantity of goods or services produced by a firm, industry, or economy within a specified period.

Total Costs

The sum of all expenses a firm incurs in producing a product or offering a service, including both fixed and variable costs.

Total Variable Costs

The sum of all costs that vary with output level, including materials, labor, and other expenses that change with production volume.