Read and answer the following question in 500 words or more:
This week, your assignment is to itemize 10 penalties or consequences for failing to repay a loan or pay for any resource extended the small business owner. What happens to people who default on their financial commitments and/or declare bankruptcy? Examples of consequences and penalties can range from personal monetary setbacks to adverse institutional outcomes. Knowing why a person may be denied credit is one thing; knowing the penalties for failure is another, and it’s usually financially perilous.
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