Final answer:
The statement is true. In business, lenders may offer agreements approved by the State Executive Director which allow operations for up to 5 years.
Step-by-step explanation:
The statement 'Operates under a Lender's agreement for up to 5 years approved by the State Executive Director.' is True.
In business, lenders may offer agreements that allow borrowing for a certain duration, which is generally approved by the relevant authority. In this case, the agreement allows operations under a lender's agreement for a maximum of 5 years, subject to approval by the State Executive Director.