When a Business Has a Secured Loan and Is Unable

question 180

Multiple Choice

When a business has a secured loan and is unable to pay the loan back,a bank may

• A) take back the loan.
• B) allow them two years to come up with the money to pay back the loan.
• C) confiscate and sell the collateral that was put up for the loan.
• D) make them work at the bank until they have made enough money to pay back the loan.
• E) do nothing.