Glossary · Doing the deal
In short
A separate document that modifies or adds specific terms to an existing agreement, such as a purchase agreement or loan document, after its initial drafting.
During due diligence or loan closing, you might discover items that require changes to the original LOI or Loan Agreement. An addendum is used to formalize these agreed-upon changes without redrafting the entire document. Ensure all parties sign and date it.
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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