{"ok":true,"canonical_url":"https://dealroom.so/glossary/director","api_url":"https://dealroom.so/api/public/glossary/director","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":"director","term":"Director","group":"People and paperwork","definition":"A director is a person who oversees the general management of a corporation. For a buyer, knowing who the directors are is crucial for understanding the ownership structure and governance of the target business.","what_it_means":"In an acquisition, you'll identify the directors of the selling entity, especially if it's a corporation. This helps confirm who has the authority to approve the sale and sign documents. Verify their roles in the corporate bylaws and state filings.","url":"https://dealroom.so/glossary/director","official_sources":[],"related":[{"slug":"corporation","term":"Corporation","url":"https://dealroom.so/glossary/corporation"},{"slug":"key-principal","term":"Key principal","url":"https://dealroom.so/glossary/key-principal"},{"slug":"partnership","term":"Partnership","url":"https://dealroom.so/glossary/partnership"},{"slug":"llc","term":"LLC","url":"https://dealroom.so/glossary/llc"}],"related_questions":[{"question":"What specific factors trigger affiliation for size standards based on common management, officers, or directors?","url":"https://dealroom.so/for-lenders/questions/what-specific-factors-trigger-affiliation-for-size-standards-based-on-common-management-of"},{"question":"Beyond common officers/directors, how does a lender assess affiliation through \"shared key employee functions\" for SBA size standards?","url":"https://dealroom.so/for-lenders/questions/beyond-common-officers-directors-how-does-a-lender-assess-affiliation-through-shared-key-e"},{"question":"What specific scenarios involving shared directors, officers, or key employees constitute 'common management' triggering affiliation for SBA size determination?","url":"https://dealroom.so/for-lenders/questions/what-specific-scenarios-involving-shared-directors-officers-or-key-employees-constitute-co"},{"question":"What happens if a franchise is not on the SBA directory?","url":"https://dealroom.so/sba-7a/questions/what-happens-if-a-franchise-is-not-on-the-sba-directory"},{"question":"Does being listed on the SBA Franchise Directory guarantee SBA loan approval?","url":"https://dealroom.so/sba-7a/questions/does-being-listed-on-the-sba-franchise-directory-guarantee-sba-loan-approval"},{"question":"What if my desired franchise is not on the SBA's approved directory?","url":"https://dealroom.so/sba-7a/questions/what-if-my-desired-franchise-is-not-on-the-sba-s-approved-directory"}]},"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 — Director","url":"https://dealroom.so/glossary/director","source_type":"DealRoom Data"}}