Which of the following is not true about asset-based lending?

	a.	Long-term asset-based loans are typically secured by property and equipment.
	b.	Asset-based loans usually include a security agreement that specifies which borrower asset is pledged as collateral for the loan.
	c.	Short-term asset-based loans are secured frequently by receivables and inventory.
	d.	The borrower generally pledges tangible assets as collateral.
	e.	Lenders look to the target firms assets as their primary protection.