{"ok":true,"canonical_url":"https://dealroom.so/glossary/extension","api_url":"https://dealroom.so/api/public/glossary/extension","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":"extension","term":"Extension","group":"Doing the deal","definition":"An agreement to prolong a deadline, whether for a loan commitment, due diligence, or other deal milestones. You'll need this if you can't meet original timelines, but it may come with conditions or costs.","what_it_means":"If your SBA loan authorization's Validity Period is expiring and you're not ready to close, your lender can request an extension from the SBA. This is common but requires justification. For due diligence, ensure your LOI has clear extension clauses, and don't hesitate to use them if you need more time to vet the business.","url":"https://dealroom.so/glossary/extension","official_sources":[{"slug":"sop-50-10","title":"SOP 50 10 — Lender and Development Company Loan Programs","official_url":"https://www.sba.gov/document/sop-50-10-lender-development-company-loan-programs","official_label":"View on SBA.gov","authority_tier":2,"publisher":"U.S. Small Business Administration","source_guide_url":"https://dealroom.so/sba-7a/sources/sop-50-10"}],"related":[{"slug":"validity-period","term":"Validity Period","url":"https://dealroom.so/glossary/validity-period"},{"slug":"sba-loan-authorization","term":"SBA Loan Authorization","url":"https://dealroom.so/glossary/sba-loan-authorization"},{"slug":"due-diligence","term":"Due diligence","url":"https://dealroom.so/glossary/due-diligence"},{"slug":"commitment-letter","term":"Commitment Letter","url":"https://dealroom.so/glossary/commitment-letter"}],"related_questions":[{"question":"When is an SBA 7(a) loan authorization typically considered fully expired if no extension has been granted?","url":"https://dealroom.so/for-lenders/questions/when-is-an-sba-7-a-loan-authorization-typically-considered-fully-expired-if-no-extension-h"},{"question":"What are the requirements for a lender to obtain an extension of the 90-day E-Tran authorization validity period?","url":"https://dealroom.so/for-lenders/questions/what-are-the-requirements-for-a-lender-to-obtain-an-extension-of-the-90-day-e-tran-authori"},{"question":"What steps should a lender take if a borrower with a 7(a) loan requests an extension of the loan maturity date?","url":"https://dealroom.so/for-lenders/questions/what-steps-should-a-lender-take-if-a-borrower-with-a-7-a-loan-requests-an-extension-of-the"}]},"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 — Extension","url":"https://dealroom.so/glossary/extension","source_type":"DealRoom Data"}}