Small Business Administration Microloans Are Based on the Borrowers' Integrity

question 28

True/False

Small Business Administration microloans are based on the borrowers' integrity rather than collateral and credit history.

---

Definitions:

Assigned the Lease

Assigned the lease refers to the process where an existing tenant transfers their rights and obligations under a lease agreement to another party, subject to the landlord's approval.

Pay Rent

The act of making a payment for the temporary use of a property or equipment owned by another.

Obligations

Duties or responsibilities imposed by contract, law, or societal standards that an entity or person is bound to fulfill.

Leaking Taps

A plumbing issue involving taps that drip or leak water, indicating a potential need for repair or replacement.