{"ok":true,"canonical_url":"https://dealroom.so/glossary/immediate-family-members","api_url":"https://dealroom.so/api/public/glossary/immediate-family-members","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":"immediate-family-members","term":"Immediate Family Members","group":"People and paperwork","definition":"For SBA purposes, this refers to a spouse, child, parent, sibling, or any of their spouses. The SBA often considers transactions or relationships between immediate family members to have an \"identity of interest.\"","what_it_means":"When applying for an SBA loan, you must disclose if any immediate family members are involved in the transaction, either as a seller, landlord, or business partner. The SBA views such relationships as having an identity of interest and will carefully review the terms (e.g., purchase price, rent) to ensure they are at fair market value and arm's length.","url":"https://dealroom.so/glossary/immediate-family-members","official_sources":[{"slug":"13-cfr-part-120","title":"13 CFR Part 120 — Business Loans","official_url":"https://www.ecfr.gov/current/title-13/chapter-I/part-120","official_label":"View on eCFR","authority_tier":1,"publisher":"Office of the Federal Register","source_guide_url":"https://dealroom.so/sba-7a/sources/13-cfr-part-120"},{"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":"identity-of-interest","term":"Identity of Interest","url":"https://dealroom.so/glossary/identity-of-interest"},{"slug":"arm-s-length","term":"Arm's length","url":"https://dealroom.so/glossary/arm-s-length"},{"slug":"affiliation","term":"Affiliation","url":"https://dealroom.so/glossary/affiliation"},{"slug":"disclosures","term":"Disclosures","url":"https://dealroom.so/glossary/disclosures"}],"related_questions":[{"question":"Are there specific requirements for a gift letter if funds are received from multiple immediate family members for the down payment?","url":"https://dealroom.so/sba-7a/questions/are-there-specific-requirements-for-a-gift-letter-if-funds-are-received-from-multiple-imme"},{"question":"Can I use gift funds from family members for my SBA 7(a) loan down payment?","url":"https://dealroom.so/sba-loans/basics/can-i-use-gift-funds-from-family-members-for-my-sba-7-a-loan-down-payment"},{"question":"Are gifted funds from family members allowed for the down payment on an SBA 7(a) loan?","url":"https://dealroom.so/sba-loans/basics/are-gifted-funds-from-family-members-allowed-for-the-down-payment-on-an-sba-7-a-loan"},{"question":"How should a lender verify funds gifted from a non-immediate family member for equity injection?","url":"https://dealroom.so/for-lenders/questions/how-should-a-lender-verify-funds-gifted-from-a-non-immediate-family-member-for-equity-inje"},{"question":"Can I use money gifted to me by family members for my SBA 7(a) loan down payment?","url":"https://dealroom.so/sba-loans/basics/can-i-use-money-gifted-to-me-by-family-members-for-my-sba-7-a-loan-down-payment"},{"question":"How does a lender verify an equity injection from a gift from a non-immediate family member?","url":"https://dealroom.so/for-lenders/questions/how-does-a-lender-verify-an-equity-injection-from-a-gift-from-a-non-immediate-family-membe"}]},"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 — Immediate Family Members","url":"https://dealroom.so/glossary/immediate-family-members","source_type":"DealRoom Data"}}