Glossary · People and paperwork
In short
Individuals who jointly apply for and are equally responsible for repaying the loan. For a small business acquisition, this usually means all active owners.
If you're buying a business with partners, you'll likely all be co-borrowers, sharing equal responsibility for the SBA loan. This means your creditworthiness and financial health are all under scrutiny. Ensure all co-borrowers understand their full liability and complete Form 1919 accurately.
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.
Free · No documents · Usually same-day