{"ok":true,"canonical_url":"https://dealroom.so/glossary/disclosure-document","api_url":"https://dealroom.so/api/public/glossary/disclosure-document","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-document","term":"Disclosure document","group":"People and paperwork","definition":"Any document provided by the seller that reveals material information about the business. These are crucial for your due diligence.","what_it_means":"During due diligence, you'll receive various disclosure documents, including financial statements, tax returns, contracts, and legal records. Scrutinize these carefully for consistency and accuracy, cross-referencing information to uncover any discrepancies or red flags before committing to the purchase.","url":"https://dealroom.so/glossary/disclosure-document","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":"nondisclosure","term":"Nondisclosure","url":"https://dealroom.so/glossary/nondisclosure"},{"slug":"misrepresentation","term":"Misrepresentation","url":"https://dealroom.so/glossary/misrepresentation"}],"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":"What is an SBA *loan authorization* document, and why is it important?","url":"https://dealroom.so/sba-loans/basics/what-is-an-sba-loan-authorization-document-and-why-is-it-important"},{"question":"What is the specific SBA policy document that addresses collateral life insurance requirements?","url":"https://dealroom.so/sba-7a/questions/what-is-the-specific-sba-policy-document-that-addresses-collateral-life-insurance-requirem"},{"question":"What information is required to document the purchase price allocation for a business acquisition?","url":"https://dealroom.so/sba-7a/questions/what-information-is-required-to-document-the-purchase-price-allocation-for-a-business-acqu"},{"question":"How does a lender document adherence to prudent lending standards in the underwriting credit memo?","url":"https://dealroom.so/for-lenders/questions/how-does-a-lender-document-adherence-to-prudent-lending-standards-in-the-underwriting-cred"},{"question":"How does the buyer's responsiveness to document requests affect the SBA 7(a) application timeline?","url":"https://dealroom.so/sba-7a/questions/how-does-the-buyer-s-responsiveness-to-document-requests-affect-the-sba-7-a-application-ti"}]},"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 document","url":"https://dealroom.so/glossary/disclosure-document","source_type":"DealRoom Data"}}