{"ok":true,"canonical_url":"https://dealroom.so/glossary/trust-document","api_url":"https://dealroom.so/api/public/glossary/trust-document","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":"trust-document","term":"Trust Document","group":"People and paperwork","definition":"This legal document establishes a trust, outlining its purpose, assets, and beneficiaries. If you or the seller use a trust, the lender needs to understand it.","what_it_means":"If you or any guarantor holds significant assets in a trust, or if the business itself is owned by a trust, the lender will require a copy of the trust document. They need to ensure the trust's terms allow for the necessary personal guarantees and pledging of assets as collateral, and that there are no adverse liens.","url":"https://dealroom.so/glossary/trust-document","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":"personal-guarantee","term":"Personal guarantee","url":"https://dealroom.so/glossary/personal-guarantee"},{"slug":"collateral","term":"Collateral","url":"https://dealroom.so/glossary/collateral"},{"slug":"guaranty","term":"Guaranty","url":"https://dealroom.so/glossary/guaranty"}],"related_questions":[{"question":"How does the SBA determine affiliation between businesses controlled by a common trust?","url":"https://dealroom.so/for-lenders/questions/how-does-the-sba-determine-affiliation-between-businesses-controlled-by-a-common-trust"},{"question":"What is an SBA *loan authorization* document, and why is it important?","url":"https://dealroom.so/sba-loans/basics/what-is-an-sba-loan-authorization-document-and-why-is-it-important"},{"question":"When does common ownership through a trust or estate create affiliation for size purposes?","url":"https://dealroom.so/for-lenders/questions/when-does-common-ownership-through-a-trust-or-estate-create-affiliation-for-size-purposes"},{"question":"What information is required to document the purchase price allocation for a business acquisition?","url":"https://dealroom.so/sba-7a/questions/what-information-is-required-to-document-the-purchase-price-allocation-for-a-business-acqu"},{"question":"Can I use inherited money that is currently in a trust to fund my equity injection?","url":"https://dealroom.so/sba-7a/questions/can-i-use-inherited-money-that-is-currently-in-a-trust-to-fund-my-equity-injection"},{"question":"Can a trust or an estate be an eligible borrower for an SBA 7(a) loan?","url":"https://dealroom.so/for-lenders/questions/can-a-trust-or-an-estate-be-an-eligible-borrower-for-an-sba-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 — Trust Document","url":"https://dealroom.so/glossary/trust-document","source_type":"DealRoom Data"}}