{"ok":true,"canonical_url":"https://dealroom.so/glossary/disclosure","api_url":"https://dealroom.so/api/public/glossary/disclosure","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":"disclosure","term":"Disclosure","group":"People and paperwork","definition":"This refers to the act of revealing all relevant and material information about a business or transaction. Full disclosure is legally required and critical for making informed decisions as a buyer.","what_it_means":"During due diligence, both the seller and lender are obligated to provide full disclosure of material information. As a buyer, you should push for complete transparency on financials, contracts, and any potential liabilities. Any intentional misrepresentation or omission of material facts can have serious legal consequences and impact your loan approval.","url":"https://dealroom.so/glossary/disclosure","official_sources":[],"related":[{"slug":"due-diligence","term":"Due diligence","url":"https://dealroom.so/glossary/due-diligence"},{"slug":"material-information","term":"Material information","url":"https://dealroom.so/glossary/material-information"},{"slug":"intentional-misrepresentation","term":"Intentional misrepresentation","url":"https://dealroom.so/glossary/intentional-misrepresentation"},{"slug":"omission-of-material-facts","term":"Omission of material facts","url":"https://dealroom.so/glossary/omission-of-material-facts"}],"related_questions":[{"question":"If a seller note on full standby is repaid prematurely, what are the lender's disclosure obligations to the SBA?","url":"https://dealroom.so/for-lenders/questions/if-a-seller-note-on-full-standby-is-repaid-prematurely-what-are-the-lender-s-disclosure-ob"},{"question":"Can an SBA 7(a) loan be denied if the seller refuses to provide adequate financial disclosures during due diligence?","url":"https://dealroom.so/sba-7a/questions/can-an-sba-7-a-loan-be-denied-if-the-seller-refuses-to-provide-adequate-financial-disclosu"}]},"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 — Disclosure","url":"https://dealroom.so/glossary/disclosure","source_type":"DealRoom Data"}}