{"ok":true,"canonical_url":"https://dealroom.so/glossary/competitive-bidding","api_url":"https://dealroom.so/api/public/glossary/competitive-bidding","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":"competitive-bidding","term":"Competitive bidding","group":"Doing the deal","definition":"A process where multiple parties submit offers to buy an asset or business, with the seller typically choosing the highest or most favorable bid.","what_it_means":"While most small business acquisitions are private sales, competitive bidding can occur if a seller receives multiple offers or if assets are sold via public auction. If you're in a competitive situation, your LOI terms, not just price, can make your offer stand out.","url":"https://dealroom.so/glossary/competitive-bidding","official_sources":[],"related":[{"slug":"public-sale","term":"Public sale","url":"https://dealroom.so/glossary/public-sale"},{"slug":"public-auction","term":"Public auction","url":"https://dealroom.so/glossary/public-auction"},{"slug":"loi","term":"LOI","url":"https://dealroom.so/glossary/loi"},{"slug":"private-sale","term":"Private sale","url":"https://dealroom.so/glossary/private-sale"}],"related_questions":[]},"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 — Competitive bidding","url":"https://dealroom.so/glossary/competitive-bidding","source_type":"DealRoom Data"}}