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:

Disinfectant

A chemical agent used to eliminate or significantly reduce the presence of pathogenic microorganisms on surfaces or objects.

Bacterial Contamination

Bacterial contamination refers to the undesirable presence of bacteria in a substance, environment, or object, which can pose health risks.

Fungal Contamination

The unwanted presence of fungi in materials or environments, which can lead to spoilage or health hazards.

Sweet Potato

A nutritious root vegetable known for its sweet taste and orange flesh, rich in vitamins, minerals, and antioxidants.