29.03.2023 - 22:10

State true or false and justify your answer: The average length of an SBA loan is about 25 years.

State true or false and justify your answer:

The average length of an SBA loan is about 25 years.

Answers (1)
  • DJOstap
    April 3, 2023 в 21:19

    False. The statement "The average length of an SBA loan is about 25 years" is not correct. Small Business Administration (SBA) loans have various term lengths, but the maximum term length for most SBA loans is 10 years for working capital loans and up to 25 years for commercial real estate loans. The actual length of an SBA loan depends on several factors, including the type of loan, the borrower's creditworthiness, the amount borrowed, and the purpose of the loan. Therefore, it is incorrect to say that the average length of an SBA loan is 25 years.

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