Marla runs a not-for-profit daycare center in her home located in a rural area. She is in need of $10,000 to purchase inventory, supplies and equipment. What Small Business Administration program would be the best fit for Marla's situation and why?
What will be an ideal response?
The 7(m) Microloan Program would be the best for Marla's business. It grants short-term loans up to $35,000 to not-for-profit child care centers for working capital related to her specific needs. The SBA guarantees or makes a loan to an intermediary who then makes the loan to the applicant. The lender also will provide training and support programs to Marla.
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Indicate whether the statement is true or false