Glossary · Doing the deal
In short
A formal document from the lender outlining the terms and conditions under which they will provide financing for your business acquisition. It's a conditional approval for your loan.
This letter details the loan amount, interest rate, term, collateral requirements, and any conditions you must meet before closing. Review it carefully, as these are the final deal terms. Fulfilling these conditions is essential for moving to closing and receiving funds.
SOP 50 10 — Lender and Development Company Loan Programs
U.S. Small Business Administration · SBA Standard Operating Procedure
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.
Line up financing while you're under LOI
Tell us the business, the price, and your timeline — we'll match you with lenders who close deals like yours and flag anything that stalls the process.
Free · No documents · Usually same-day