{"ok":true,"canonical_url":"https://dealroom.so/glossary/libor","api_url":"https://dealroom.so/api/public/glossary/libor","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":"libor","term":"LIBOR","aka":"London Interbank Offered Rate","group":"The loan itself","definition":"LIBOR was a global benchmark interest rate for variable-rate loans. It has been phased out and replaced by new benchmarks like Term SOFR for SBA loans.","what_it_means":"While historically common, LIBOR is no longer used for new SBA 7(a) loans. If you're comparing older loan documents or discussing past deals, you might still encounter it. For your acquisition, focus on the current benchmark, which is Term SOFR.","url":"https://dealroom.so/glossary/libor","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":"term-sofr","term":"Term SOFR","url":"https://dealroom.so/glossary/term-sofr"},{"slug":"variable-interest-rate","term":"Variable interest rate","url":"https://dealroom.so/glossary/variable-interest-rate"},{"slug":"spread","term":"Spread","url":"https://dealroom.so/glossary/spread"},{"slug":"7a-loan","term":"7(a) loan","url":"https://dealroom.so/glossary/7a-loan"}],"related_questions":[{"question":"How should a lender handle the transition of an existing variable-rate 7(a) loan from LIBOR to an alternative base rate?","url":"https://dealroom.so/for-lenders/questions/how-should-a-lender-handle-the-transition-of-an-existing-variable-rate-7-a-loan-from-libor"}]},"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 — LIBOR","url":"https://dealroom.so/glossary/libor","source_type":"DealRoom Data"}}