Alexander has just opened a bakery & café in a busy New York City neighborhood.He has received an SBA-guaranteed microloan of $13,000.Alexander can use the microloan for all of the following,EXCEPT:
A)to buy a new dough mixer
B)to pay off outstanding business-related credit card bills
C)to pay for a new advertising campaign
D)to pay rent and utility bills for the building

Question

Quizplus · Accepted Answer

Microloans can be used for various purposes, including purchasing equipment and inventory, making repairs or renovations to a building, advertising, and paying for rent and utilities. However, they cannot be used to pay off personal debt or credit card bills unrelated to the business.

Alexander Has Just Opened a Bakery & Café in a Busy