{"ok":true,"canonical_url":"https://dealroom.so/glossary/customer-invoice","api_url":"https://dealroom.so/api/public/glossary/customer-invoice","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":"customer-invoice","term":"Customer invoice","group":"Reading the business","definition":"A bill issued to a customer for goods or services provided, representing money owed to the business (accounts receivable).","what_it_means":"In an acquisition, you'll need to analyze the aging of customer invoices to understand the business's cash flow quality and potential bad debt. Lenders will take a lien on these as a primary source of collateral, especially for service businesses, but they'll discount their value.","url":"https://dealroom.so/glossary/customer-invoice","official_sources":[],"related":[{"slug":"accounts-receivable","term":"Accounts receivable","url":"https://dealroom.so/glossary/accounts-receivable"},{"slug":"cash-flow","term":"Cash flow","url":"https://dealroom.so/glossary/cash-flow"},{"slug":"collateral","term":"Collateral","url":"https://dealroom.so/glossary/collateral"},{"slug":"working-capital","term":"Working capital","url":"https://dealroom.so/glossary/working-capital"}],"related_questions":[{"question":"Can a high customer concentration (e.g., one customer is 50% of revenue) jeopardize my SBA 7(a) loan approval?","url":"https://dealroom.so/sba-7a/questions/can-a-high-customer-concentration-e-g-one-customer-is-50-of-revenue-jeopardize-my-sba-7-a-"},{"question":"What if the business I'm acquiring relies heavily on a single major customer?","url":"https://dealroom.so/sba-7a/questions/what-if-the-business-i-m-acquiring-relies-heavily-on-a-single-major-customer"},{"question":"How does the SBA typically value intangible assets like customer lists or software for collateral?","url":"https://dealroom.so/sba-7a/questions/how-does-the-sba-typically-value-intangible-assets-like-customer-lists-or-software-for-col"},{"question":"How does high customer concentration in a target business affect SBA 7(a) acquisition loan approval?","url":"https://dealroom.so/sba-7a/questions/how-does-high-customer-concentration-in-a-target-business-affect-sba-7-a-acquisition-loan-"},{"question":"What specific factors should a lender assess when underwriting a business with a high customer concentration?","url":"https://dealroom.so/for-lenders/questions/what-specific-factors-should-a-lender-assess-when-underwriting-a-business-with-a-high-cust"},{"question":"Can an SBA 7(a) loan be used to purchase a business with a high customer concentration?","url":"https://dealroom.so/sba-loans/basics/can-an-sba-7-a-loan-be-used-to-purchase-a-business-with-a-high-customer-concentration"}]},"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 — Customer invoice","url":"https://dealroom.so/glossary/customer-invoice","source_type":"DealRoom Data"}}