A federally sponsored program which offers loan guarantees to create and expand businesses in areas with below-average income and high unemployment is called:
A) the Small Business Administration.
B) the Economic Development Administration.
C) SBIC.
D) U.S. Department of Agriculture's Rural Business Co-op Service.

Question

Quizplus · Accepted Answer

The Economic Development Administration (EDA) is a federally sponsored program which offers loan guarantees to create and expand businesses in areas with below-average income and high unemployment. The Small Business Administration (SBA) primarily provides loans and counseling to small businesses, while the SBIC (Small Business Investment Company) program provides equity capital and long-term loans to small businesses. The U.S. Department of Agriculture's Rural Business Co-op Service focuses on providing financing and technical assistance to rural businesses and cooperatives.

A Federally Sponsored Program Which Offers Loan Guarantees to Create