3. A small business obtains a $75,000 loan from Hometown Bank. The bank requires the owners of the business, Lance and Emma, to be personally liable for the loan, even though the loan is for their small business. To get the loan, Lance and Emma are required to take a second mortgage on their house. Is this fair, or has the bank gone too far in this case? Explain. 4. What are the general duties or responsibilities of a person who is a financial manager?