Which of the Following Is Not True Regarding the SBA

question 105

Multiple Choice

Which of the following is not true regarding the SBA Low Doc Loan Program?

• A)It was created to help reduce the paperwork requirements involved in SBA loans.
• B)It allows small businesses to use a simple one-page application for all loan applications and has cut response time to these loans significantly.
• C)To qualify for a Low Doc loan,a company must have average sales below $5 million during the previous three years and employ fewer than 100 people.
• D)These loans may only be used for the purchase of fixed assets.

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Definitions:

Older Adults

Refers to individuals in the later stage of their life, typically aged 65 years and above, often focusing on retirement, health matters, and life satisfaction issues.

Percentage

A portion or fraction out of 100 that represents a part of a whole.

Adolescents

Describes the stage of human development that occurs between childhood and adulthood, typically between ages 13 and 19.

Lose Their Parents

The experience of a child or individual becoming an orphan or losing their maternal or paternal figure.