Leonard and the seller have agreed to a price for a business. Leonard cannot pay cash for the entire purchase price, so he applied for a bank loan. The bank is likely to
A) check Leonard's FICO score before granting the loan.
B) require the assets of the company to serve as collateral for the loan.
C) check the seller's credit history before approving the loan.
D) demand Leonard carry life insurance as a condition of the loan.
Correct Answer:
Verified
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