{"ok":true,"canonical_url":"https://dealroom.so/glossary/applicant","api_url":"https://dealroom.so/api/public/glossary/applicant","data_freshness":{"sba_records_through":"2026-05-31","fdic_records_through":"2026-03-31","dealroom_last_updated":"2026-06-15","timezone":"America/Chicago"},"source_summary":["Public SBA 7(a) loan records","FDIC institution data","DealRoom lender and franchise enrichment"],"term":{"slug":"applicant","term":"Applicant","group":"People and paperwork","definition":"This is the business or individual applying for the SBA 7(a) loan. It's you, the buyer, and the business you're acquiring.","what_it_means":"Both the acquiring entity (your new business) and you personally are considered applicants. You'll complete SBA Form 1919 and provide personal financial statements and tax returns. The lender reviews both the business and your personal creditworthiness and character.","url":"https://dealroom.so/glossary/applicant","official_sources":[{"slug":"sop-50-10","title":"SOP 50 10 — Lender and Development Company Loan Programs","official_url":"https://www.sba.gov/document/sop-50-10-lender-development-company-loan-programs","official_label":"View on SBA.gov","authority_tier":2,"publisher":"U.S. Small Business Administration","source_guide_url":"https://dealroom.so/sba-7a/sources/sop-50-10"},{"slug":"sba-form-1919","title":"SBA Form 1919 — Borrower Information Form","official_url":"https://www.sba.gov/document/sba-form-1919-borrower-information-form","official_label":"View on SBA.gov","authority_tier":4,"publisher":"U.S. Small Business Administration","source_guide_url":"https://dealroom.so/sba-7a/sources/sba-form-1919"}],"related":[{"slug":"form-1919","term":"Form 1919","url":"https://dealroom.so/glossary/form-1919"},{"slug":"creditworthiness","term":"Creditworthiness","url":"https://dealroom.so/glossary/creditworthiness"},{"slug":"personal-financial-statement","term":"Personal financial statement","url":"https://dealroom.so/glossary/personal-financial-statement"},{"slug":"small-business","term":"Small business","url":"https://dealroom.so/glossary/small-business"}],"related_questions":[{"question":"What are the citizenship requirements for an SBA 7(a) loan applicant?","url":"https://dealroom.so/sba-loans/basics/what-are-the-citizenship-requirements-for-an-sba-7-a-loan-applicant"},{"question":"What if a business applicant has outstanding federal tax liens or delinquencies?","url":"https://dealroom.so/for-lenders/questions/what-if-a-business-applicant-has-outstanding-federal-tax-liens-or-delinquencies"},{"question":"Are all owners of an applicant business required to sign SBA Form 1919?","url":"https://dealroom.so/for-lenders/questions/are-all-owners-of-an-applicant-business-required-to-sign-sba-form-1919"},{"question":"What type of criminal history might automatically disqualify an SBA 7(a) applicant?","url":"https://dealroom.so/for-lenders/questions/what-type-of-criminal-history-might-automatically-disqualify-an-sba-7-a-applicant"},{"question":"What are the citizenship or residency requirements for a 7(a) loan applicant?","url":"https://dealroom.so/for-lenders/questions/what-are-the-citizenship-or-residency-requirements-for-a-7-a-loan-applicant"},{"question":"How does the 'not engaged in lending' rule apply to a loan applicant?","url":"https://dealroom.so/for-lenders/questions/how-does-the-not-engaged-in-lending-rule-apply-to-a-loan-applicant"}]},"caveats":["Definitions represent DealRoom's plain-English interpretation for buyers; verify regulatory terms against the official SBA and eCFR sources listed.","Not legal, tax, or financial advice, and not an SBA eligibility determination."],"citation":{"label":"DealRoom.so Glossary — Applicant","url":"https://dealroom.so/glossary/applicant","source_type":"DealRoom Data"}}