Which of the following holds true for the Small Business Administration?
A) The SBA requires that you create your business plan or loan proposal prior to applying for an SBA guaranteed loan.
B) A 504 Loan Program requires a 25% minimum down payment.
C) The SBA does not guarantee small business loans.
D) The SBA actually loans money to small business and is a bank.

Question

Quizplus · Accepted Answer

The Small Business Administration (SBA) does indeed require applicants to prepare a business plan or loan proposal before applying for an SBA-guaranteed loan. This is part of their process to ensure that the businesses they support are viable and have thought through their business model and financing needs.

Which of the Following Holds True for the Small Business