{"ok":true,"canonical_url":"https://dealroom.so/glossary/loan-document","api_url":"https://dealroom.so/api/public/glossary/loan-document","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-document","term":"Loan document","group":"People and paperwork","definition":"The complete set of legal agreements that define the terms and conditions of your SBA loan, including the promissory note, security agreements, and personal guarantee.","what_it_means":"These documents outline your repayment obligations, what collateral is pledged, and the covenants you must abide by. Read every document carefully with your attorney before signing. Understand the consequences of default and all your responsibilities as a borrower and guarantor.","url":"https://dealroom.so/glossary/loan-document","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":"note","term":"Note","url":"https://dealroom.so/glossary/note"},{"slug":"personal-guarantee","term":"Personal guarantee","url":"https://dealroom.so/glossary/personal-guarantee"},{"slug":"sba-loan-authorization","term":"SBA Loan Authorization","url":"https://dealroom.so/glossary/sba-loan-authorization"},{"slug":"security-interest","term":"Security Interest","url":"https://dealroom.so/glossary/security-interest"}],"related_questions":[{"question":"What is an SBA *loan authorization* document, and why is it important?","url":"https://dealroom.so/sba-loans/basics/what-is-an-sba-loan-authorization-document-and-why-is-it-important"},{"question":"What is the specific SBA policy document that addresses collateral life insurance requirements?","url":"https://dealroom.so/sba-7a/questions/what-is-the-specific-sba-policy-document-that-addresses-collateral-life-insurance-requirem"},{"question":"What information is required to document the purchase price allocation for a business acquisition?","url":"https://dealroom.so/sba-7a/questions/what-information-is-required-to-document-the-purchase-price-allocation-for-a-business-acqu"},{"question":"How does a lender document adherence to prudent lending standards in the underwriting credit memo?","url":"https://dealroom.so/for-lenders/questions/how-does-a-lender-document-adherence-to-prudent-lending-standards-in-the-underwriting-cred"},{"question":"How must a lender document the chosen base rate for a variable rate 7(a) loan in the loan authorization?","url":"https://dealroom.so/for-lenders/questions/how-must-a-lender-document-the-chosen-base-rate-for-a-variable-rate-7-a-loan-in-the-loan-a"},{"question":"How does the buyer's responsiveness to document requests affect the SBA 7(a) application timeline?","url":"https://dealroom.so/sba-7a/questions/how-does-the-buyer-s-responsiveness-to-document-requests-affect-the-sba-7-a-application-ti"}]},"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 document","url":"https://dealroom.so/glossary/loan-document","source_type":"DealRoom Data"}}