Glossary · People and paperwork
In short
A written summary prepared by the lender that tells the story of your business acquisition, detailing the business's background, your experience, and how the loan funds will be used.
This document is crucial for the SBA's review process, especially for non-delegated lenders or larger loans. It provides context for the financial projections and explains how your management team will ensure the business's success and loan repayment. Ensure your business plan and projections align with the narrative.
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.
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