Glossary · People and paperwork
In short
The highest-ranking executive in a company, responsible for overall strategic direction and operations. As the new CEO, you will be the primary guarantor and key person for the SBA loan, making your experience and character critical.
In an acquisition, you, as the incoming CEO or managing member, will be considered a "key principal." The SBA and lender will evaluate your management experience, credit history, and character. Your ability to run the business effectively is central to the loan's approval and success.
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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