{"ok":true,"canonical_url":"https://dealroom.so/glossary/public-auction","api_url":"https://dealroom.so/api/public/glossary/public-auction","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":"public-auction","term":"Public auction","group":"Doing the deal","definition":"A type of public sale where assets are sold to the highest bidder in an open, competitive setting. This is often used for liquidating collateral from defaulted loans.","what_it_means":"In the event of a loan default, lenders may use a public auction to sell business assets quickly to recover funds. As a buyer, you might encounter assets from a distressed business sold this way, but it's not typically how you'd acquire a going concern with an SBA loan.","url":"https://dealroom.so/glossary/public-auction","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":"public-sale","term":"Public sale","url":"https://dealroom.so/glossary/public-sale"},{"slug":"competitive-bidding","term":"Competitive bidding","url":"https://dealroom.so/glossary/competitive-bidding"},{"slug":"liquidation","term":"Liquidation","url":"https://dealroom.so/glossary/liquidation"},{"slug":"loan-default","term":"Loan default","url":"https://dealroom.so/glossary/loan-default"}],"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 — Public auction","url":"https://dealroom.so/glossary/public-auction","source_type":"DealRoom Data"}}