Glossary · People and paperwork
In short
The legal structure (LLC, Corporation, Sole Proprietor) that formally takes out the SBA loan. This entity is legally responsible for repaying the loan and operating the acquired business.
You'll need to decide on and establish your borrowing entity early in the process. The lender will underwrite this entity, not just you personally. Ensure the entity is properly formed and registered, as all loan documents will be in its name. It's crucial for legal and tax implications.
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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