{"ok":true,"canonical_url":"https://dealroom.so/glossary/legal-fee","api_url":"https://dealroom.so/api/public/glossary/legal-fee","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":"legal-fee","term":"Legal fee","group":"The loan itself","definition":"These are the costs for attorneys involved in drafting and reviewing loan documents and closing the acquisition. Both the lender and you will incur legal fees.","what_it_means":"Expect to pay for the lender's attorney, whose fees are typically passed through as a closing cost. You'll also have your own attorney's fees for reviewing the purchase agreement and loan documents. Budget for these costs as they are essential to properly document and close an SBA 7(a) acquisition.","url":"https://dealroom.so/glossary/legal-fee","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":"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"}],"related":[{"slug":"lender-closing-costs","term":"Lender closing costs","url":"https://dealroom.so/glossary/lender-closing-costs"},{"slug":"total-project-costs","term":"Total project costs","url":"https://dealroom.so/glossary/total-project-costs"},{"slug":"loan-agreement","term":"Loan agreement","url":"https://dealroom.so/glossary/loan-agreement"}],"related_questions":[{"question":"Are there any other lender-specific fees beyond the SBA guaranty fee and ongoing servicing fee?","url":"https://dealroom.so/sba-7a/questions/are-there-any-other-lender-specific-fees-beyond-the-sba-guaranty-fee-and-ongoing-servicing"},{"question":"Can a lender include unapproved legal fees in a Universal Purchase Package (UPP)?","url":"https://dealroom.so/for-lenders/questions/can-a-lender-include-unapproved-legal-fees-in-a-universal-purchase-package-upp"},{"question":"Are pre-closing legal and accounting fees eligible to be counted towards my equity injection?","url":"https://dealroom.so/sba-7a/questions/are-pre-closing-legal-and-accounting-fees-eligible-to-be-counted-towards-my-equity-injecti"},{"question":"Can the lender charge application fees or underwriting fees in addition to the SBA guaranty fee?","url":"https://dealroom.so/sba-7a/questions/can-the-lender-charge-application-fees-or-underwriting-fees-in-addition-to-the-sba-guarant"},{"question":"Can professional fees I've already paid (e.g., legal, valuation) count towards my equity injection?","url":"https://dealroom.so/sba-7a/questions/can-professional-fees-i-ve-already-paid-e-g-legal-valuation-count-towards-my-equity-inject"},{"question":"Are legal fees for closing the SBA 7(a) loan typically financed within the loan amount?","url":"https://dealroom.so/sba-7a/questions/are-legal-fees-for-closing-the-sba-7-a-loan-typically-financed-within-the-loan-amount"}]},"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 — Legal fee","url":"https://dealroom.so/glossary/legal-fee","source_type":"DealRoom Data"}}