SBAExpress Loans Typically Are Between Five and Ten Years, but Loan

question 101

True/False

SBAExpress loans typically are between five and ten years, but loan maturities for fixed assets can be up to 25 years and an average SBAExpress loan is $50,000.

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Definitions:

Misrepresentation

The act of providing false, misleading, or inaccurate information with the intent to deceive or mislead.

Mistake

In legal terms, an erroneous belief, at contracting, that certain facts are true.

Fraudulent Misrepresentation

The act of intentionally making false statements to induce another party into a contract, resulting in harm or loss.

Express False Statement

An explicitly communicated untrue assertion, which can be a basis for a claim of deceit or fraud.