The Small Business 7(a)Guaranty program:
A) guarantees up to 50 percent of the amount loaned.
B) helps qualified small businesses obtain financing when they cannot obtain it through regular lending channels.
C) has a maximum loan amount of $10 million.
D) loans can be used only for machinery and equipment, and land and building.

Question

Quizplus · Accepted Answer

The Small Business 7(a) Guaranty program is designed to help small businesses obtain financing when they might not be eligible through normal channels, by guaranteeing a portion of the loan made by lenders to small businesses, thus reducing the risk to lenders.

The Small Business 7(a)Guaranty Program