Glossary · People and paperwork
In short
The legally binding contract between you and the lender that outlines all the terms and conditions of your loan. It dictates your obligations and the lender's rights.
This is the most critical document you'll sign for your 7(a) loan. It details the interest rate, repayment schedule, collateral, covenants, and what constitutes a loan default. Review it thoroughly with your attorney before signing.
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.
Know what you'll need before you apply
Tell us about the deal and who's buying — we'll flag the guaranty, eligibility, and paperwork issues that slow SBA approval before they cost you time.
Free · No documents · Usually same-day