{"ok":true,"canonical_url":"https://dealroom.so/glossary/secondary-market","api_url":"https://dealroom.so/api/public/glossary/secondary-market","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":"secondary-market","term":"Secondary Market","group":"The loan itself","definition":"This is where SBA lenders can sell the guaranteed portion of their loans to other investors. It provides liquidity to lenders, encouraging them to make more SBA loans.","what_it_means":"Your SBA lender might sell the guaranteed portion of your loan on the secondary market. This doesn't change your loan terms, interest rate, or payment schedule. You'll continue to interact with your original lender or a designated loan servicer.","url":"https://dealroom.so/glossary/secondary-market","official_sources":[{"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":"pooling","term":"Pooling","url":"https://dealroom.so/glossary/pooling"},{"slug":"7a-loan","term":"7(a) loan","url":"https://dealroom.so/glossary/7a-loan"},{"slug":"servicing","term":"Servicing","url":"https://dealroom.so/glossary/servicing"},{"slug":"guaranty","term":"Guaranty","url":"https://dealroom.so/glossary/guaranty"}],"related_questions":[{"question":"What are the requirements for assigning secondary market loans through SBA Form 1088?","url":"https://dealroom.so/for-lenders/questions/what-are-the-requirements-for-assigning-secondary-market-loans-through-sba-form-1088"},{"question":"What specific lender reporting requirements apply to the sale of the guaranteed portion on the secondary market?","url":"https://dealroom.so/for-lenders/questions/what-specific-lender-reporting-requirements-apply-to-the-sale-of-the-guaranteed-portion-on"},{"question":"How does the SBA process the guaranty payment to the secondary market investor (Purchaser) for a 7(a) loan?","url":"https://dealroom.so/for-lenders/questions/how-does-the-sba-process-the-guaranty-payment-to-the-secondary-market-investor-purchaser-f"},{"question":"How often does the SBA require lenders to report on 7(a) loan portfolio performance for secondary market purposes?","url":"https://dealroom.so/for-lenders/questions/how-often-does-the-sba-require-lenders-to-report-on-7-a-loan-portfolio-performance-for-sec"},{"question":"How does the SBA typically review a lender's loan file in the context of a secondary market audit?","url":"https://dealroom.so/for-lenders/questions/how-does-the-sba-typically-review-a-lender-s-loan-file-in-the-context-of-a-secondary-marke"},{"question":"What are the lender's responsibilities after selling the guaranteed portion of a 7(a) loan on the secondary market?","url":"https://dealroom.so/for-lenders/questions/what-are-the-lender-s-responsibilities-after-selling-the-guaranteed-portion-of-a-7-a-loan-"}]},"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 — Secondary Market","url":"https://dealroom.so/glossary/secondary-market","source_type":"DealRoom Data"}}