{"ok":true,"canonical_url":"https://dealroom.so/glossary/trust-or-estate","api_url":"https://dealroom.so/api/public/glossary/trust-or-estate","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-or-estate","term":"Trust or Estate","group":"People and paperwork","definition":"These are legal arrangements that can own a business or assets. If a trust or estate is involved as an owner, additional documentation is required to confirm its legal standing and beneficiaries.","what_it_means":"If the selling business is owned by a Trust or Estate, or if you plan to hold ownership through one, the SBA and lender need to review the governing documents. They must understand who controls the entity and who the ultimate beneficiaries are to ensure eligibility and personal guarantees are properly secured.","url":"https://dealroom.so/glossary/trust-or-estate","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":"governing-document","term":"Governing Document","url":"https://dealroom.so/glossary/governing-document"},{"slug":"controlling-party","term":"Controlling Party","url":"https://dealroom.so/glossary/controlling-party"},{"slug":"beneficiary","term":"Beneficiary","url":"https://dealroom.so/glossary/beneficiary"},{"slug":"form-1919","term":"Form 1919","url":"https://dealroom.so/glossary/form-1919"}],"related_questions":[{"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":"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"},{"question":"Can a trust or estate be an eligible personal guarantor for an SBA 7(a) loan?","url":"https://dealroom.so/sba-7a/questions/can-a-trust-or-estate-be-an-eligible-personal-guarantor-for-an-sba-7-a-loan"},{"question":"How does a lender determine affiliation for SBA size purposes when a business is controlled by a trust or estate?","url":"https://dealroom.so/for-lenders/questions/how-does-a-lender-determine-affiliation-for-sba-size-purposes-when-a-business-is-controlle"},{"question":"What are the requirements for a trust or estate to be an eligible personal guarantor for an SBA 7(a) loan?","url":"https://dealroom.so/for-lenders/questions/what-are-the-requirements-for-a-trust-or-estate-to-be-an-eligible-personal-guarantor-for-a"},{"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"}]},"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 or Estate","url":"https://dealroom.so/glossary/trust-or-estate","source_type":"DealRoom Data"}}