{"ok":true,"canonical_url":"https://dealroom.so/glossary/credit-reports","api_url":"https://dealroom.so/api/public/glossary/credit-reports","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-reports","term":"Credit Reports","group":"Reading the business","definition":"Detailed summaries of your credit history, including loans, credit cards, payment history, and public records. Lenders use these to assess your creditworthiness.","what_it_means":"Your personal Credit Reports are a critical part of the SBA loan application. Lenders scrutinize them for payment history, derogatory marks, and overall debt load to determine your Creditworthiness. Review your own reports for accuracy and address any issues before applying.","url":"https://dealroom.so/glossary/credit-reports","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":"fico-score","term":"FICO score","url":"https://dealroom.so/glossary/fico-score"},{"slug":"credit-inquiries","term":"Credit Inquiries","url":"https://dealroom.so/glossary/credit-inquiries"},{"slug":"hard-inquiries","term":"Hard Inquiries","url":"https://dealroom.so/glossary/hard-inquiries"},{"slug":"derogatory-mark","term":"Derogatory mark","url":"https://dealroom.so/glossary/derogatory-mark"}],"related_questions":[{"question":"If the acquired business owns its real estate, are environmental due diligence reports (e.g., Phase I) always mandatory?","url":"https://dealroom.so/sba-7a/questions/if-the-acquired-business-owns-its-real-estate-are-environmental-due-diligence-reports-e-g-"},{"question":"If the acquired business has its real estate, are environmental due diligence reports like a Phase I ESA always required?","url":"https://dealroom.so/sba-7a/questions/if-the-acquired-business-has-its-real-estate-are-environmental-due-diligence-reports-like-"},{"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"}]},"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 Reports","url":"https://dealroom.so/glossary/credit-reports","source_type":"DealRoom Data"}}