Glossary · People and paperwork
In short
This is the business or individual applying for the SBA 7(a) loan. It's you, the buyer, and the business you're acquiring.
Both the acquiring entity (your new business) and you personally are considered applicants. You'll complete SBA Form 1919 and provide personal financial statements and tax returns. The lender reviews both the business and your personal creditworthiness and character.
SOP 50 10 — Lender and Development Company Loan Programs
U.S. Small Business Administration · SBA Standard Operating Procedure
SBA Form 1919 — Borrower Information Form
U.S. Small Business Administration · SBA form
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.
Know what you'll need before you apply
Tell us about the deal and who's buying — we'll flag the guaranty, eligibility, and paperwork issues that slow SBA approval before they cost you time.
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