Final answer:
It is false that fees can only be set up for commercial loans. Both commercial and consumer loans can have various fees that are dictated by the loan agreement and regulations affecting the cost of the loan.
Step-by-step explanation:
It is false that you can set up fees for only commercial loans and not consumer loans. Both commercial loans, which are extended to businesses, and consumer loans, which are extended to individuals for personal, family, or household purposes, can have associated fees. These fees can include but are not limited to, application fees, origination fees, and late payment fees.
In both types of loans, the specifics of the fees, including their amounts and when they are charged, are governed by the terms of the loan agreement and applicable regulations. It's important for both lenders and borrowers to understand these fees as they can significantly impact the overall cost of the loan.