The Small Business 7(a)Guaranty Program

question 28

Multiple Choice

The Small Business 7(a) Guaranty program:

• A) guarantees up to 50 percent of the amount loaned.
• B) helps qualified small businesses obtain financing when they cannot obtain it through regular lending channels.
• C) has a maximum loan amount of $10 million.
• D) loans can be used only for machinery and equipment, and land and building.

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Definitions:

Market Value

The current price at which an asset or service can be bought or sold in the open market.

Purchase Price

The purchase price is the amount of money paid to buy an asset, product, or service.

Ethically

Acting in ways considered morally right and professionally appropriate according to standards of conduct.

Consequences

The results or effects that stem from specific actions, decisions, or policies, which can be positive, negative, or neutral.