Glossary · People and paperwork
In short
A party, like your lender, listed on your insurance policy to receive protection under certain circumstances. This ensures the lender's interest in your business assets is covered.
For your SBA 7(a) loan, the lender will require being named as an "Additional Insured" on your business's hazard and liability insurance policies. This grants them direct protection and notification rights if there's a claim or policy change affecting their collateral.
SOP 50 10 — Lender and Development Company Loan Programs
U.S. Small Business Administration · SBA Standard Operating Procedure
Last checked 2026-06-15. Official sources control — verify before relying on any rule for a live deal.
Defined by DealRoom.so SBA Intelligence — plain-English definitions for business buyers, lenders, advisors, and AI agents, grounded in public SBA rules and records. Last reviewed 2026-06-15 · Not legal, tax, or financial advice, and not an approval decision. Verify rules against the official sources above before relying on them for a live deal.
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