Glossary · Doing the deal
In short
A formal change or modification to the original terms and conditions of your loan agreement. It requires approval from both you and the lender, and sometimes the SBA.
After closing, if you need to change terms like the repayment schedule, collateral, or use of proceeds, you'll need a loan amendment. These are not automatic; you'll need to justify the change to your lender, who then often needs SBA approval.
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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