{"ok":true,"canonical_url":"https://dealroom.so/glossary/debtor","api_url":"https://dealroom.so/api/public/glossary/debtor","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":"debtor","term":"Debtor","group":"People and paperwork","definition":"The individual or entity that owes money. In a business acquisition, the business itself might be a debtor to a seller note, or you, as the buyer, will be the debtor to the SBA loan.","what_it_means":"As a buyer, you become the primary debtor on the SBA 7(a) loan. The business you acquire will also likely have outstanding debts that need to be addressed or assumed. Understand who owes what and to whom, as this impacts the business's balance sheet and your ongoing liabilities.","url":"https://dealroom.so/glossary/debtor","official_sources":[],"related":[{"slug":"liability","term":"Liability","url":"https://dealroom.so/glossary/liability"},{"slug":"seller-note","term":"Seller note","url":"https://dealroom.so/glossary/seller-note"},{"slug":"loan-agreement","term":"Loan agreement","url":"https://dealroom.so/glossary/loan-agreement"},{"slug":"guaranty","term":"Guaranty","url":"https://dealroom.so/glossary/guaranty"}],"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 — Debtor","url":"https://dealroom.so/glossary/debtor","source_type":"DealRoom Data"}}