The Economic Development Administration offers loan guarantees to create new businesses in economically depressed areas with below-average incomes and high unemployment rates.

Question

Quizplus · Accepted Answer

This statement is true. The Economic Development Administration (EDA) provides loan guarantees to support the creation of new businesses in areas that are struggling economically, including those with below-average incomes and high unemployment rates. These loan guarantees can help to stimulate economic growth and job creation in these communities.

The Economic Development Administration Offers Loan Guarantees to Create New