In Order to Qualify for a Microloan from the SBA

question 61

True/False

In order to qualify for a microloan from the SBA, an entrepreneur must have adequate collateral and a proven track record of success.

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Definitions:

Voting Stock

Shares of a company’s stock that grant the shareholder the right to vote on corporate governance issues and board member elections.

Market Value

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

Derivative Suit

A legal action brought by shareholders on behalf of a corporation against third parties, typically for harm done to the corporation.

Corporate Management

The administration and control of a corporation, involving decision-making by executives and oversight by a board of directors.