Which of the following statements is incorrect?
A) The SBA can guarantee up to $3.75 million at an interest rate not to exceed 2.75 percent more than the prime lending rate.
B) The primary function of the SBA is to guarantee loans made to new and small businesses.
C) For qualified new and small firms that are unable to obtain long-term financing on reasonable terms from banks or other financial institutions, the SBA offers a basic loan guarantee program.
D) All of the statements are correct.
Correct Answer:
Verified
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