{"ok":true,"canonical_url":"https://dealroom.so/glossary/officers","api_url":"https://dealroom.so/api/public/glossary/officers","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":"officers","term":"Officers","group":"People and paperwork","definition":"These are the key executives, like the CEO, CFO, or President, who manage the day-to-day operations and strategic direction of a business. They hold significant responsibility and decision-making power.","what_it_means":"In an acquisition, you'll need to understand which officers are staying, leaving, or being replaced. Their roles, responsibilities, and compensation will impact your post-acquisition plan and potential need for new hires. The SBA also requires personal guarantees from all 20%+ owners and often from key officers.","url":"https://dealroom.so/glossary/officers","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":"key-employees","term":"Key employees","url":"https://dealroom.so/glossary/key-employees"},{"slug":"personal-guarantee","term":"Personal guarantee","url":"https://dealroom.so/glossary/personal-guarantee"},{"slug":"due-diligence","term":"Due diligence","url":"https://dealroom.so/glossary/due-diligence"},{"slug":"non-compete","term":"Non-compete","url":"https://dealroom.so/glossary/non-compete"}],"related_questions":[{"question":"What specific factors trigger affiliation for size standards based on common management, officers, or directors?","url":"https://dealroom.so/for-lenders/questions/what-specific-factors-trigger-affiliation-for-size-standards-based-on-common-management-of"},{"question":"How are common officers or shared key employees between businesses evaluated for affiliation under SBA size standards?","url":"https://dealroom.so/for-lenders/questions/how-are-common-officers-or-shared-key-employees-between-businesses-evaluated-for-affiliati"},{"question":"Beyond common officers/directors, how does a lender assess affiliation through \"shared key employee functions\" for SBA size standards?","url":"https://dealroom.so/for-lenders/questions/beyond-common-officers-directors-how-does-a-lender-assess-affiliation-through-shared-key-e"},{"question":"What specific scenarios involving shared directors, officers, or key employees constitute 'common management' triggering affiliation for SBA size determination?","url":"https://dealroom.so/for-lenders/questions/what-specific-scenarios-involving-shared-directors-officers-or-key-employees-constitute-co"}]},"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 — Officers","url":"https://dealroom.so/glossary/officers","source_type":"DealRoom Data"}}