Glossary · People and paperwork
In short
This document certifies who the current officers of a corporation are and verifies their authority to act on behalf of the company. It's essential for proving that the person signing legal documents for the seller is authorized to do so.
Your lender will require this to confirm the seller's signing authority during closing, ensuring the deal is legally binding. Review it to confirm the stated officers match your understanding of the seller's management. Any discrepancies must be clarified before proceeding.
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.
Free · No documents · Usually same-day