{"ok":true,"canonical_url":"https://dealroom.so/glossary/irrevocable","api_url":"https://dealroom.so/api/public/glossary/irrevocable","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":"irrevocable","term":"Irrevocable","group":"People and paperwork","definition":"Something that is irrevocable cannot be reversed, canceled, or changed. This is critical for commitments like letters of credit or gifted funds, assuring the SBA that funds or obligations are permanent.","what_it_means":"An irrevocable commitment means it's final and binding. For example, if you receive gifted equity, the gift must be irrevocable, preventing the giver from demanding it back. The SBA needs assurance that the capital is permanently injected into the business and not subject to recall.","url":"https://dealroom.so/glossary/irrevocable","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":"unconditional","term":"Unconditional","url":"https://dealroom.so/glossary/unconditional"},{"slug":"gifted-equity","term":"Gifted Equity","url":"https://dealroom.so/glossary/gifted-equity"},{"slug":"guaranty","term":"Guaranty","url":"https://dealroom.so/glossary/guaranty"},{"slug":"seasoned-funds","term":"Seasoned funds","url":"https://dealroom.so/glossary/seasoned-funds"}],"related_questions":[]},"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 — Irrevocable","url":"https://dealroom.so/glossary/irrevocable","source_type":"DealRoom Data"}}