A loan to a local business to purchase a new machine would be categorized as:
A)a consumer loan.
B)an agriculture loan.
C)a commercial and industrial loan.
D)a real estate loan.
E)None of the options is correct.

Question

Quizplus · Accepted Answer

A loan to a local business for purchasing a new machine would fall under the category of commercial and industrial loan. This type of loan is specifically meant for businesses to invest in machinery, equipment, or other capital expenditures that will enhance their operations.

A Loan to a Local Business to Purchase a New