{"ok":true,"canonical_url":"https://dealroom.so/glossary/field-exam","api_url":"https://dealroom.so/api/public/glossary/field-exam","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":"field-exam","term":"Field Exam","group":"Reading the business","definition":"A Field Exam is an on-site review of a business's accounts receivable and inventory by a third-party examiner, typically for asset-based loans. It verifies the existence and quality of these assets.","what_it_means":"While more common for asset-based lines of credit, some SBA lenders may require a Field Exam as part of their due diligence, especially for deals with significant inventory or receivables. This exam helps the lender confirm the collateral value and ensure the business's records accurately reflect its assets. Be prepared to provide detailed documentation and access to your operations.","url":"https://dealroom.so/glossary/field-exam","official_sources":[],"related":[{"slug":"accounts-receivable","term":"Accounts receivable","url":"https://dealroom.so/glossary/accounts-receivable"},{"slug":"inventory","term":"Inventory","url":"https://dealroom.so/glossary/inventory"},{"slug":"due-diligence","term":"Due diligence","url":"https://dealroom.so/glossary/due-diligence"},{"slug":"collateral-analysis","term":"Collateral analysis","url":"https://dealroom.so/glossary/collateral-analysis"}],"related_questions":[{"question":"What specific examples of failing 'prudent lending standards' by a lender can lead to a repair or denial of a 7(a) guaranty?","url":"https://dealroom.so/for-lenders/questions/what-specific-examples-of-failing-prudent-lending-standards-by-a-lender-can-lead-to-a-repa"}]},"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 — Field Exam","url":"https://dealroom.so/glossary/field-exam","source_type":"DealRoom Data"}}