Glossary · People and paperwork
In short
Board control means having enough votes on a company's board of directors to direct its strategy and make key decisions. This typically comes from owning a majority of voting shares.
As a buyer acquiring a business, you typically seek 100% board control, especially with an SBA 7(a) loan where you're expected to be actively involved as a key principal. Ensure the purchase agreement grants you full control post-closing.
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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