{"ok":true,"canonical_url":"https://dealroom.so/glossary/board-control","api_url":"https://dealroom.so/api/public/glossary/board-control","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":"board-control","term":"Board control","group":"People and paperwork","definition":"Board control means having enough votes on a company's board of directors to direct its strategy and make key decisions. This typically comes from owning a majority of voting shares.","what_it_means":"As a buyer acquiring a business, you typically seek 100% board control, especially with an SBA 7(a) loan where you're expected to be actively involved as a key principal. Ensure the purchase agreement grants you full control post-closing.","url":"https://dealroom.so/glossary/board-control","official_sources":[],"related":[{"slug":"stock-purchase","term":"Stock purchase","url":"https://dealroom.so/glossary/stock-purchase"},{"slug":"corporation","term":"Corporation","url":"https://dealroom.so/glossary/corporation"},{"slug":"llc","term":"LLC","url":"https://dealroom.so/glossary/llc"},{"slug":"key-principal","term":"Key principal","url":"https://dealroom.so/glossary/key-principal"}],"related_questions":[{"question":"Is member or board consent needed for an SBA partner buyout?","url":"https://dealroom.so/sba-7a/questions/is-member-or-board-consent-needed-for-an-sba-partner-buyout"},{"question":"How does the SBA define 'total control' rule to determine affiliation for size standards?","url":"https://dealroom.so/for-lenders/questions/how-does-the-sba-define-total-control-rule-to-determine-affiliation-for-size-standards"},{"question":"What is the definition of \"control\" for affiliation purposes in a 7(a) loan application?","url":"https://dealroom.so/for-lenders/questions/what-is-the-definition-of-control-for-affiliation-purposes-in-a-7-a-loan-application"},{"question":"How does the SBA determine \"common control\" when assessing affiliation for a management company providing services?","url":"https://dealroom.so/for-lenders/questions/how-does-the-sba-determine-common-control-when-assessing-affiliation-for-a-management-comp"},{"question":"How does the \"control\" principle trigger affiliation for purposes of determining a business's size standard?","url":"https://dealroom.so/for-lenders/questions/how-does-the-control-principle-trigger-affiliation-for-purposes-of-determining-a-business-"},{"question":"How does the SBA evaluate a franchise agreement not on the directory for acceptable franchisor control provisions?","url":"https://dealroom.so/for-lenders/questions/how-does-the-sba-evaluate-a-franchise-agreement-not-on-the-directory-for-acceptable-franch"}]},"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 — Board control","url":"https://dealroom.so/glossary/board-control","source_type":"DealRoom Data"}}