Glossary · The loan itself
In short
A loan whose interest rate adjusts based on the London Interbank Offered Rate (LIBOR). LIBOR has been phased out, so existing loans were converted to alternative reference rates.
While new loans no longer use LIBOR, you might encounter an existing business loan tied to it if you're refinancing or assuming debt. Your lender will have transitioned any LIBOR-indexed loan to a SOFR-based rate or another benchmark, as LIBOR ceased publication. Understand the new rate.
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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