{"ok":true,"canonical_url":"https://dealroom.so/glossary/perfected","api_url":"https://dealroom.so/api/public/glossary/perfected","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":"perfected","term":"Perfected","group":"Doing the deal","definition":"Refers to the legal process that establishes a lender's priority claim over collateral. For a buyer, ensuring the SBA loan's lien is perfected is critical for the deal to close.","what_it_means":"Your SBA lender will \"perfect\" their security interest in the business's assets by filing a UCC-1 financing statement. This public record gives the lender priority over other creditors in case of default. Verify that all necessary filings are correctly made to secure the collateral for your loan.","url":"https://dealroom.so/glossary/perfected","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":"ucc-lien","term":"UCC lien","url":"https://dealroom.so/glossary/ucc-lien"},{"slug":"lien","term":"Lien","url":"https://dealroom.so/glossary/lien"},{"slug":"lien-position","term":"Lien position","url":"https://dealroom.so/glossary/lien-position"},{"slug":"perfect-lien","term":"Perfect lien","url":"https://dealroom.so/glossary/perfect-lien"}],"related_questions":[]},"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 — Perfected","url":"https://dealroom.so/glossary/perfected","source_type":"DealRoom Data"}}