Glossary · Doing the deal
In short
This is the lender's official decision to approve your loan application based on their assessment of your creditworthiness and the business's financial health. It's a critical step towards closing.
Credit approval comes after a thorough underwriting process, including reviewing your personal financial statement, business financials, and credit report. It's typically followed by a commitment letter detailing the loan terms. Be ready to provide all requested documentation promptly.
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.
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