{"ok":true,"canonical_url":"https://dealroom.so/glossary/credit-committee","api_url":"https://dealroom.so/api/public/glossary/credit-committee","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":"credit-committee","term":"Credit committee","group":"People and paperwork","definition":"This is a group of senior banking officers responsible for reviewing and approving larger or more complex loan applications. They make the final decision on whether to fund your deal.","what_it_means":"After the credit analyst reviews your application, it goes to the credit committee for final approval. This is where the loan's viability and your creditworthiness are formally debated. A strong presentation and clear responses to their questions are crucial for getting funded.","url":"https://dealroom.so/glossary/credit-committee","official_sources":[],"related":[{"slug":"credit-analyst","term":"Credit analyst","url":"https://dealroom.so/glossary/credit-analyst"},{"slug":"credit-approval-process","term":"Credit approval process","url":"https://dealroom.so/glossary/credit-approval-process"},{"slug":"underwriting","term":"Underwriting","url":"https://dealroom.so/glossary/underwriting"},{"slug":"lender-closing-costs","term":"Lender closing costs","url":"https://dealroom.so/glossary/lender-closing-costs"}],"related_questions":[{"question":"What is the role of the lender's credit committee in the SBA 7(a) loan approval process?","url":"https://dealroom.so/for-lenders/questions/what-is-the-role-of-the-lender-s-credit-committee-in-the-sba-7-a-loan-approval-process"},{"question":"What if my personal credit report shows a recent late payment on a minor credit card?","url":"https://dealroom.so/sba-7a/questions/what-if-my-personal-credit-report-shows-a-recent-late-payment-on-a-minor-credit-card"},{"question":"Does having many recent credit inquiries on my personal credit report affect SBA 7(a) loan approval chances?","url":"https://dealroom.so/sba-7a/questions/does-having-many-recent-credit-inquiries-on-my-personal-credit-report-affect-sba-7-a-loan-"},{"question":"Does the sunset of the SBSS score impact the requirement for a credit memo or documented credit analysis for 7(a) Small Loans?","url":"https://dealroom.so/for-lenders/questions/does-the-sunset-of-the-sbss-score-impact-the-requirement-for-a-credit-memo-or-documented-c"},{"question":"Can a credit card cash advance be used for my down payment?","url":"https://dealroom.so/sba-loans/basics/can-a-credit-card-cash-advance-be-used-for-my-down-payment"},{"question":"What is the 'credit elsewhere' test for an SBA 7(a) loan?","url":"https://dealroom.so/sba-loans/basics/what-is-the-credit-elsewhere-test-for-an-sba-7-a-loan"}]},"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 — Credit committee","url":"https://dealroom.so/glossary/credit-committee","source_type":"DealRoom Data"}}