Glossary · Doing the deal
In short
An agreement to prolong a deadline, whether for a loan commitment, due diligence, or other deal milestones. You'll need this if you can't meet original timelines, but it may come with conditions or costs.
If your SBA loan authorization's Validity Period is expiring and you're not ready to close, your lender can request an extension from the SBA. This is common but requires justification. For due diligence, ensure your LOI has clear extension clauses, and don't hesitate to use them if you need more time to vet the business.
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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