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.

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Definitions:

Plaster

A building material used for coating walls and ceilings, which hardens after application.

Labor

The human effort, both physical and mental, that is used to produce goods and services.

Interest Rate

The percentage of a sum of money charged for its use, often expressed as an annual rate in the context of loans or savings.

Garden Gnomes

Are small decorative figurines of humanoid creatures, usually placed in gardens, believed to protect the area from evil.