Glossary · People and paperwork
In short
A legal release from most debts after a bankruptcy proceeding. While discharged, a bankruptcy on your record can still impact your eligibility for an SBA loan.
If you've had a bankruptcy, the SBA requires it to be Discharged. Even then, you must demonstrate strong credit rebuilding and a sound repayment capacity. Lenders will look closely at the circumstances and your financial behavior since the discharge.
13 CFR Part 120 — Business Loans
Office of the Federal Register · Federal regulation
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.
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