Glossary · People and paperwork
In short
The ultimate power to lead and direct a company's overall operations and strategic vision. This authority typically rests with the highest-level officers or owners.
As the buyer using an SBA loan, you must clearly assume executive authority over the acquired business. This means you are responsible for setting the company's direction and overseeing its performance. Ensure the legal documents transfer this authority unequivocally to you.
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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