{"ok":true,"canonical_url":"https://dealroom.so/glossary/borrower-consent","api_url":"https://dealroom.so/api/public/glossary/borrower-consent","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":"borrower-consent","term":"Borrower consent","group":"People and paperwork","definition":"This is the formal agreement from you, the buyer (borrower), to the terms and conditions of the SBA loan. It's legally binding and confirms you understand your obligations.","what_it_means":"Before closing, you'll sign numerous documents, including the SBA Loan Authorization, which acts as your consent. Ensure you fully understand all covenants and requirements, as breaking them can lead to loan default and recourse.","url":"https://dealroom.so/glossary/borrower-consent","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":"sba-loan-authorization","term":"SBA Loan Authorization","url":"https://dealroom.so/glossary/sba-loan-authorization"},{"slug":"loan-agreement","term":"Loan agreement","url":"https://dealroom.so/glossary/loan-agreement"},{"slug":"guaranty","term":"Guaranty","url":"https://dealroom.so/glossary/guaranty"},{"slug":"personal-guarantee","term":"Personal guarantee","url":"https://dealroom.so/glossary/personal-guarantee"}],"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":"What specific collateral modifications can a lender approve without seeking prior SBA consent?","url":"https://dealroom.so/for-lenders/questions/what-specific-collateral-modifications-can-a-lender-approve-without-seeking-prior-sba-cons"},{"question":"Which specific collateral modifications can a lender approve without seeking prior SBA consent?","url":"https://dealroom.so/for-lenders/questions/which-specific-collateral-modifications-can-a-lender-approve-without-seeking-prior-sba-con"},{"question":"Who must provide consent for a business to obtain life insurance on an individual?","url":"https://dealroom.so/sba-7a/questions/who-must-provide-consent-for-a-business-to-obtain-life-insurance-on-an-individual"},{"question":"Does the lender need to collect separate consent forms for background checks from non-owner spouses?","url":"https://dealroom.so/for-lenders/questions/does-the-lender-need-to-collect-separate-consent-forms-for-background-checks-from-non-owne"},{"question":"What happens if a seller note on full standby is paid off early without prior lender consent?","url":"https://dealroom.so/sba-7a/questions/what-happens-if-a-seller-note-on-full-standby-is-paid-off-early-without-prior-lender-conse"}]},"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 — Borrower consent","url":"https://dealroom.so/glossary/borrower-consent","source_type":"DealRoom Data"}}