{"ok":true,"canonical_url":"https://dealroom.so/glossary/loan-audit","api_url":"https://dealroom.so/api/public/glossary/loan-audit","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":"loan-audit","term":"Loan audit","group":"Doing the deal","definition":"This is a review by the SBA or lender to ensure all loan documents and procedures followed SBA rules and the loan agreement. It checks for compliance and proper execution.","what_it_means":"The SBA conducts loan audits to verify that lenders comply with program rules and that loans are properly underwritten and serviced. While typically a lender concern, issues discovered in an audit could impact your loan's SBA guaranty, though this is rare for a performing loan. Focus on providing accurate information during origination.","url":"https://dealroom.so/glossary/loan-audit","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":"underwriting","term":"Underwriting","url":"https://dealroom.so/glossary/underwriting"},{"slug":"compliance","term":"Compliance","url":"https://dealroom.so/glossary/compliance"},{"slug":"loan-agreement","term":"Loan agreement","url":"https://dealroom.so/glossary/loan-agreement"},{"slug":"servicing","term":"Servicing","url":"https://dealroom.so/glossary/servicing"}],"related_questions":[{"question":"What documentation demonstrates a lender's adherence to prudent lending standards during an SBA audit?","url":"https://dealroom.so/for-lenders/questions/what-documentation-demonstrates-a-lender-s-adherence-to-prudent-lending-standards-during-a"},{"question":"How does the SBA typically review a lender's loan file in the context of a secondary market audit?","url":"https://dealroom.so/for-lenders/questions/how-does-the-sba-typically-review-a-lender-s-loan-file-in-the-context-of-a-secondary-marke"},{"question":"What if the business I'm acquiring has pending tax audits or unresolved tax issues?","url":"https://dealroom.so/sba-7a/questions/what-if-the-business-i-m-acquiring-has-pending-tax-audits-or-unresolved-tax-issues"},{"question":"Does an SBA loan have better terms than a regular bank loan?","url":"https://dealroom.so/sba-loans/basics/does-an-sba-loan-have-better-terms-than-a-regular-bank-loan"},{"question":"What is the minimum loan amount for an SBA 7(a) loan?","url":"https://dealroom.so/sba-loans/basics/what-is-the-minimum-loan-amount-for-an-sba-7-a-loan"},{"question":"What is the maximum loan amount for an SBA 7(a) loan?","url":"https://dealroom.so/sba-loans/basics/what-is-the-maximum-loan-amount-for-an-sba-7-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 — Loan audit","url":"https://dealroom.so/glossary/loan-audit","source_type":"DealRoom Data"}}