Glossary · Doing the deal
In short
A process where multiple parties submit offers to buy an asset or business, with the seller typically choosing the highest or most favorable bid.
While most small business acquisitions are private sales, competitive bidding can occur if a seller receives multiple offers or if assets are sold via public auction. If you're in a competitive situation, your LOI terms, not just price, can make your offer stand out.
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
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