Glossary · People and paperwork
In short
This is a person or entity legally bound to fulfill an obligation, typically to repay a debt. In an SBA loan, you, the borrower, are the primary obligor.
As the buyer, you will be the primary obligor on the SBA loan note. Any individuals holding 20% or more equity in the borrowing entity, plus certain other key principals, will also be required to personally guarantee the loan, making them co-obligors or guarantors. Understand who is on the hook.
13 CFR Part 120 — Business Loans
Office of the Federal Register · Federal regulation
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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