{"ok":true,"canonical_url":"https://dealroom.so/glossary/business-plan","api_url":"https://dealroom.so/api/public/glossary/business-plan","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":"business-plan","term":"Business plan","group":"Reading the business","definition":"A business plan is a document outlining your business's objectives, strategies, operations, and financial projections. It serves as a roadmap for your acquisition and future growth.","what_it_means":"For an SBA 7(a) loan, especially for certain types of acquisitions or if you lack significant industry experience, the lender may require a comprehensive business plan. This plan demonstrates your understanding of the business, market, and how you intend to achieve profitability and debt repayment.","url":"https://dealroom.so/glossary/business-plan","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"}],"related":[{"slug":"financial-projections","term":"Financial projections","url":"https://dealroom.so/glossary/financial-projections"},{"slug":"market-analysis","term":"Market analysis","url":"https://dealroom.so/glossary/market-analysis"},{"slug":"business-acquisition-loan","term":"Business acquisition loan","url":"https://dealroom.so/glossary/business-acquisition-loan"},{"slug":"credit-analysis","term":"Credit analysis","url":"https://dealroom.so/glossary/credit-analysis"}],"related_questions":[{"question":"Is a comprehensive business plan mandatory for an SBA 7(a) loan?","url":"https://dealroom.so/sba-loans/basics/is-a-comprehensive-business-plan-mandatory-for-an-sba-7-a-loan"},{"question":"Is a detailed business plan necessary for an SBA 7(a) loan application?","url":"https://dealroom.so/sba-loans/basics/is-a-detailed-business-plan-necessary-for-an-sba-7-a-loan-application"},{"question":"How important is a business plan for an SBA 7(a) loan application?","url":"https://dealroom.so/sba-loans/basics/how-important-is-a-business-plan-for-an-sba-7-a-loan-application"},{"question":"Does the SBA require me to create a formal business plan to apply?","url":"https://dealroom.so/sba-loans/basics/does-the-sba-require-me-to-create-a-formal-business-plan-to-apply"},{"question":"How can life insurance facilitate a smooth succession plan for a family-owned business?","url":"https://dealroom.so/sba-7a/questions/how-can-life-insurance-facilitate-a-smooth-succession-plan-for-a-family-owned-business"},{"question":"How critical is a detailed business plan for an SBA 7(a) loan application?","url":"https://dealroom.so/sba-loans/basics/how-critical-is-a-detailed-business-plan-for-an-sba-7-a-loan-application"}]},"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 — Business plan","url":"https://dealroom.so/glossary/business-plan","source_type":"DealRoom Data"}}