{"ok":true,"canonical_url":"https://dealroom.so/glossary/loan-terms","api_url":"https://dealroom.so/api/public/glossary/loan-terms","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-terms","term":"Loan Terms","group":"The loan itself","definition":"The specific conditions and repayment schedule of your SBA loan, including interest rate, maturity, and payment frequency. These terms directly dictate your monthly debt service and overall cost of borrowing.","what_it_means":"You'll review these in the commitment letter and final loan agreement. Pay close attention to the interest rate (variable or fixed), amortization schedule, and any prepayment penalties. Understand how these terms impact your cash flow and the total cost of the loan over its life.","url":"https://dealroom.so/glossary/loan-terms","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":"term-maturity","term":"Term / maturity","url":"https://dealroom.so/glossary/term-maturity"},{"slug":"variable-rate","term":"Variable rate","url":"https://dealroom.so/glossary/variable-rate"},{"slug":"amortization","term":"Amortization","url":"https://dealroom.so/glossary/amortization"},{"slug":"principal-and-interest","term":"Principal and interest","url":"https://dealroom.so/glossary/principal-and-interest"}],"related_questions":[{"question":"What is an SBA 7(a) loan in simple terms?","url":"https://dealroom.so/sba-loans/basics/what-is-an-sba-7-a-loan-in-simple-terms"},{"question":"What exactly is an SBA 7(a) loan, in simple terms?","url":"https://dealroom.so/sba-loans/basics/what-exactly-is-an-sba-7-a-loan-in-simple-terms"},{"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 are the typical repayment terms for an SBA 7(a) loan?","url":"https://dealroom.so/sba-loans/basics/what-are-the-typical-repayment-terms-for-an-sba-7-a-loan"},{"question":"What are the longest possible repayment terms for an SBA 7(a) loan?","url":"https://dealroom.so/sba-loans/basics/what-are-the-longest-possible-repayment-terms-for-an-sba-7-a-loan"},{"question":"Does the SBA set all the specific loan terms like interest rates and repayment?","url":"https://dealroom.so/sba-loans/basics/does-the-sba-set-all-the-specific-loan-terms-like-interest-rates-and-repayment"}]},"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 Terms","url":"https://dealroom.so/glossary/loan-terms","source_type":"DealRoom Data"}}