Hoping to Qualify for a Microloan from the Small Business

question 259

True/False

Hoping to qualify for a microloan from the Small Business Administration,Magdalena's business plan clearly identifies her strategy to profitably serve a target market.Unfortunately,her lack of business experience and limited collateral greatly reduce her chances of obtaining the microloan.
Microloans are awarded on the basis of the integrity of the borrowers and the soundness of their business ideas.

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Definitions:

Privacy Acts

Laws designed to protect the personal information of individuals from unauthorized access, use, or disclosure.

Damages

Compensation claimed by or awarded to a person as redress for a loss or injury.

Injunctions

Court orders requiring an individual or entity to do or refrain from doing a specific act, used to prevent harm or to protect legal rights.

Accounting For Profits

A legal remedy that requires the wrongful party to pay the profits earned from their wrongdoing to the plaintiff.