{"ok":true,"canonical_url":"https://dealroom.so/glossary/statutory-authority","api_url":"https://dealroom.so/api/public/glossary/statutory-authority","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":"statutory-authority","term":"Statutory authority","group":"People and paperwork","definition":"This refers to the power granted by law to a government agency, like the SBA, to create and enforce rules. It's why their regulations apply to your loan.","what_it_means":"The SBA operates under statutory authority granted by Congress, which allows it to establish rules for programs like the 7(a) loan. This means the SBA's regulations (like those in 13 CFR Part 120 or SOP 50 10) are legally binding. You must comply with these rules to get and maintain your SBA loan.","url":"https://dealroom.so/glossary/statutory-authority","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"},{"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":"sop-50-10","term":"SOP 50 10","url":"https://dealroom.so/glossary/sop-50-10"},{"slug":"compliance","term":"Compliance","url":"https://dealroom.so/glossary/compliance"},{"slug":"sba-loan-authorization","term":"SBA Loan Authorization","url":"https://dealroom.so/glossary/sba-loan-authorization"}],"related_questions":[{"question":"What factors allow a lender to use their delegated authority (e.g., Preferred Lender status) to speed up SBA loan approval?","url":"https://dealroom.so/sba-7a/questions/what-factors-allow-a-lender-to-use-their-delegated-authority-e-g-preferred-lender-status-t"}]},"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 — Statutory authority","url":"https://dealroom.so/glossary/statutory-authority","source_type":"DealRoom Data"}}