Multiple Choice
Which of the following is not true regarding the SBA Low Doc Loan Program?
A) It was created to help reduce the paperwork requirements involved in SBA loans.
B) It allows small businesses to use a simple one-page application for all loan applications and has cut response time to these loans significantly.
C) To qualify for a Low Doc loan,a company must have average sales below $5 million during the previous three years and employ fewer than 100 people.
D) These loans may only be used for the purchase of fixed assets.
Correct Answer:
Verified
Correct Answer:
Verified
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