{"ok":true,"canonical_url":"https://dealroom.so/glossary/records-search","api_url":"https://dealroom.so/api/public/glossary/records-search","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":"records-search","term":"Records search","group":"Reading the business","definition":"A formal check for liens, judgments, and bankruptcies against the business or seller. It ensures you're buying assets free and clear, or that existing liens are properly released at closing.","what_it_means":"Your attorney or lender will conduct UCC lien searches and judgment searches to uncover any claims on the business's assets. This protects you from inheriting the seller's undisclosed debts or having issues with collateral. Verify that all prior liens are addressed and released before closing.","url":"https://dealroom.so/glossary/records-search","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-search","term":"Lien Search","url":"https://dealroom.so/glossary/lien-search"},{"slug":"perfect-lien","term":"Perfect lien","url":"https://dealroom.so/glossary/perfect-lien"}],"related_questions":[{"question":"When is a lender required to conduct an environmental records search for real estate collateral?","url":"https://dealroom.so/for-lenders/questions/when-is-a-lender-required-to-conduct-an-environmental-records-search-for-real-estate-colla"},{"question":"What kind of records does the SBA check about my personal background?","url":"https://dealroom.so/sba-loans/basics/what-kind-of-records-does-the-sba-check-about-my-personal-background"},{"question":"What if the business I'm buying has poor financial records or no formal accounting system?","url":"https://dealroom.so/sba-7a/questions/what-if-the-business-i-m-buying-has-poor-financial-records-or-no-formal-accounting-system"}]},"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 — Records search","url":"https://dealroom.so/glossary/records-search","source_type":"DealRoom Data"}}