{"ok":true,"canonical_url":"https://dealroom.so/glossary/loan-commitment","api_url":"https://dealroom.so/api/public/glossary/loan-commitment","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-commitment","term":"Loan Commitment","aka":"Commitment Letter","group":"The loan itself","definition":"This is a formal, written agreement from a lender to provide you with a loan, detailing the terms, conditions, and requirements you must meet before closing. It's a critical step after underwriting.","what_it_means":"Once your loan is approved, the lender issues a Loan Commitment letter. This document is legally binding on the lender, assuming you satisfy all the stipulated conditions by the closing date. Review it carefully with your advisor to understand all requirements before you sign.","url":"https://dealroom.so/glossary/loan-commitment","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"}],"related":[{"slug":"commitment-letter","term":"Commitment Letter","url":"https://dealroom.so/glossary/commitment-letter"},{"slug":"sba-loan-authorization","term":"SBA Loan Authorization","url":"https://dealroom.so/glossary/sba-loan-authorization"},{"slug":"underwriting","term":"Underwriting","url":"https://dealroom.so/glossary/underwriting"}],"related_questions":[{"question":"Can a commitment to inject additional working capital after closing count towards my equity injection?","url":"https://dealroom.so/sba-7a/questions/can-a-commitment-to-inject-additional-working-capital-after-closing-count-towards-my-equit"},{"question":"What is the typical timeframe from submitting a complete application to receiving a firm SBA 7(a) loan commitment?","url":"https://dealroom.so/sba-7a/questions/what-is-the-typical-timeframe-from-submitting-a-complete-application-to-receiving-a-firm-s"},{"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"},{"question":"Is there a typical average loan size for an SBA 7(a) loan?","url":"https://dealroom.so/sba-loans/basics/is-there-a-typical-average-loan-size-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 Commitment","url":"https://dealroom.so/glossary/loan-commitment","source_type":"DealRoom Data"}}