{"ok":true,"canonical_url":"https://dealroom.so/glossary/credit-memorandum","api_url":"https://dealroom.so/api/public/glossary/credit-memorandum","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-memorandum","term":"Credit memorandum","group":"People and paperwork","definition":"A document issued by a seller to a buyer, reducing the amount the buyer owes, often due to returned goods, billing errors, or allowances.","what_it_means":"In the context of an SBA loan, a credit memorandum might refer to an internal bank document detailing the credit decision for your loan application. It outlines the underwriting analysis, conditions for approval, and key terms. While you won't typically see the full internal memo, your lender's commitment letter will reflect its key points.","url":"https://dealroom.so/glossary/credit-memorandum","official_sources":[],"related":[{"slug":"underwriting","term":"Underwriting","url":"https://dealroom.so/glossary/underwriting"},{"slug":"commitment-letter","term":"Commitment Letter","url":"https://dealroom.so/glossary/commitment-letter"},{"slug":"loan-agreement","term":"Loan agreement","url":"https://dealroom.so/glossary/loan-agreement"},{"slug":"credit-analysis","term":"Credit analysis","url":"https://dealroom.so/glossary/credit-analysis"}],"related_questions":[{"question":"What is the importance of a lender's detailed credit memorandum in the 7(a) loan approval process?","url":"https://dealroom.so/for-lenders/questions/what-is-the-importance-of-a-lender-s-detailed-credit-memorandum-in-the-7-a-loan-approval-p"},{"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 memorandum","url":"https://dealroom.so/glossary/credit-memorandum","source_type":"DealRoom Data"}}