{"ok":true,"canonical_url":"https://dealroom.so/glossary/form-155","api_url":"https://dealroom.so/api/public/glossary/form-155","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":"form-155","term":"Form 155","group":"Your money in the deal","definition":"The standby agreement document. It also stops the seller from acting against you or the collateral without the lender's consent.","what_it_means":"SBA Form 155 is the two-party standby agreement that lenders require when a seller note is involved. The seller signs it to acknowledge that they won't receive payments and won't take action against the business assets or the borrower during the standby period. Without a signed Form 155, the seller note doesn't count toward your equity injection. Collect it at closing alongside the promissory note and keep it with your deal file.","url":"https://dealroom.so/glossary/form-155","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"},{"slug":"sba-form-1919","title":"SBA Form 1919 — Borrower Information Form","official_url":"https://www.sba.gov/document/sba-form-1919-borrower-information-form","official_label":"View on SBA.gov","authority_tier":4,"publisher":"U.S. Small Business Administration","source_guide_url":"https://dealroom.so/sba-7a/sources/sba-form-1919"}],"related":[{"slug":"standby","term":"Standby","url":"https://dealroom.so/glossary/standby"},{"slug":"seller-note","term":"Seller note","url":"https://dealroom.so/glossary/seller-note"},{"slug":"equity-injection","term":"Equity injection","url":"https://dealroom.so/glossary/equity-injection"},{"slug":"sop-50-10","term":"SOP 50 10","url":"https://dealroom.so/glossary/sop-50-10"}],"related_questions":[{"question":"What is the primary purpose of SBA Form 1919, 'Borrower Information Form'?","url":"https://dealroom.so/sba-loans/basics/what-is-the-primary-purpose-of-sba-form-1919-borrower-information-form"},{"question":"When must an applicant update their SBA Form 1919, Borrower Information Form, during underwriting?","url":"https://dealroom.so/for-lenders/questions/when-must-an-applicant-update-their-sba-form-1919-borrower-information-form-during-underwr"},{"question":"What is the primary purpose of SBA Form 1919 (Borrower Information Form) in 7(a) loan processing?","url":"https://dealroom.so/for-lenders/questions/what-is-the-primary-purpose-of-sba-form-1919-borrower-information-form-in-7-a-loan-process"},{"question":"What is the importance of the SBA Form 1919 (Borrower Information Form) in the 7(a) loan application process?","url":"https://dealroom.so/for-lenders/questions/what-is-the-importance-of-the-sba-form-1919-borrower-information-form-in-the-7-a-loan-appl"},{"question":"What is the primary purpose of SBA Form 1919 for eligibility?","url":"https://dealroom.so/for-lenders/questions/what-is-the-primary-purpose-of-sba-form-1919-for-eligibility"},{"question":"When is an Environmental Questionnaire (Form 1081) required for a loan?","url":"https://dealroom.so/for-lenders/questions/when-is-an-environmental-questionnaire-form-1081-required-for-a-loan"}]},"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 — Form 155","url":"https://dealroom.so/glossary/form-155","source_type":"DealRoom Data"}}