{"ok":true,"canonical_url":"https://dealroom.so/glossary/third-party-report","api_url":"https://dealroom.so/api/public/glossary/third-party-report","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":"third-party-report","term":"Third-Party Report","group":"Reading the business","definition":"This is a report from an independent professional evaluating a specific aspect of the business, like an appraisal or environmental assessment. Lenders often require these to verify assets or uncover risks.","what_it_means":"Expect to pay for third-party reports such as business valuations, appraisals of real estate or equipment, and environmental site assessments. These reports provide objective data for the lender's underwriting and help you understand the true condition and value of the assets you're acquiring.","url":"https://dealroom.so/glossary/third-party-report","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"},{"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":"appraisal","term":"Appraisal","url":"https://dealroom.so/glossary/appraisal"},{"slug":"business-valuation","term":"Business valuation","url":"https://dealroom.so/glossary/business-valuation"},{"slug":"environmental-consultant","term":"Environmental consultant","url":"https://dealroom.so/glossary/environmental-consultant"},{"slug":"phase-i-environmental-site-assessment","term":"Phase I Environmental Site Assessment","url":"https://dealroom.so/glossary/phase-i-environmental-site-assessment"}],"related_questions":[{"question":"Can a third-party loan, not from the seller, count towards the minimum equity injection?","url":"https://dealroom.so/sba-7a/questions/can-a-third-party-loan-not-from-the-seller-count-towards-the-minimum-equity-injection"},{"question":"What specific language must a non-SBA third-party standby agreement include to ensure eligibility?","url":"https://dealroom.so/for-lenders/questions/what-specific-language-must-a-non-sba-third-party-standby-agreement-include-to-ensure-elig"},{"question":"How does a lender verify the full standby status of a non-SBA third-party debt?","url":"https://dealroom.so/for-lenders/questions/how-does-a-lender-verify-the-full-standby-status-of-a-non-sba-third-party-debt"},{"question":"Can an SBA 7(a) loan finance the purchase of intellectual property rights from a third party?","url":"https://dealroom.so/sba-7a/questions/can-an-sba-7-a-loan-finance-the-purchase-of-intellectual-property-rights-from-a-third-part"},{"question":"What are the eligibility requirements for funds borrowed from a third party to count as equity injection?","url":"https://dealroom.so/sba-7a/questions/what-are-the-eligibility-requirements-for-funds-borrowed-from-a-third-party-to-count-as-eq"},{"question":"Can I use an SBA 7(a) loan to purchase a business from an unrelated third party?","url":"https://dealroom.so/sba-loans/basics/can-i-use-an-sba-7-a-loan-to-purchase-a-business-from-an-unrelated-third-party"}]},"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 — Third-Party Report","url":"https://dealroom.so/glossary/third-party-report","source_type":"DealRoom Data"}}