Which of the following restrictions does the SBA impose on a Section 504 CDC loan?
A)For every $35,000 the CDC loans,the project must create at least one new job or achieve a public policy goal.
B)Machinery and equipment financed must have a useful life of at least 10 years.
C)The borrower must be a "small business" and must not have a tangible net worth in excess of $7 million and a net income in excess of $2.5 million for the preceding two years.
D)All of the above

Question

Quizplus · Accepted Answer

The SBA imposes all of the above restrictions on a Section 504 CDC loan, meaning that for every $35,000 loaned by the CDC, the project must create at least one new job or achieve a public policy goal, machinery and equipment financed must have a useful life of at least 10 years, and the borrower must be a "small business" with a tangible net worth of less than $7 million and a net income of less than $2.5 million for the preceding two years.

Which of the Following Restrictions Does the SBA Impose on a Section