Glossary · Doing the deal
In short
Specific requirements that must be met by both buyer and seller before the deal can legally close. Failing to satisfy these can kill the deal.
Your LOI and purchase agreement will detail these conditions, like securing your SBA loan, completing due diligence, getting landlord approval for a lease assignment, or obtaining specific licenses. Both parties must actively work to fulfill their conditions, or the closing date will slip, or the deal may fall apart.
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.
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