Glossary · People and paperwork
In short
These are the key executives, like the CEO, CFO, or President, who manage the day-to-day operations and strategic direction of a business. They hold significant responsibility and decision-making power.
In an acquisition, you'll need to understand which officers are staying, leaving, or being replaced. Their roles, responsibilities, and compensation will impact your post-acquisition plan and potential need for new hires. The SBA also requires personal guarantees from all 20%+ owners and often from key officers.
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.
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