Glossary · People and paperwork
In short
Individuals who hold key leadership positions in a corporation, responsible for its management and governance. As a buyer, you need to understand who these people are, their roles, and any liabilities they carry.
Officers (e.g., CEO, CFO) handle day-to-day operations, while Directors oversee management and set strategic direction. In an acquisition, you'll need to confirm the legal authority of the selling officers/directors to execute the transaction. Post-closing, you'll appoint new officers and directors, and ensure proper corporate resolutions are in place.
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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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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