Final answer:
The SBA's primary business loan program is the 7(a) Loan Program, not the Microloan program. The Microloan program is targeted for very small loans and specific borrower types such as women, low-income, veterans, and minorities.
Step-by-step explanation:
The statement that the SBA's Microloan program is their primary business loan program is false. The SBA's primary business loan program is actually the 7(a) Loan Program, which offers loans to small business owners for a variety of purposes, including working capital, expansion, and equipment purchases. The Microloan program, on the other hand, specifically provides very small loans to new or growing businesses, with a distinct focus on certain types of borrowers, including women, low-income, veteran, and minority entrepreneurs.