Glossary · People and paperwork
In short
These are the legal papers that establish a business entity, like Articles of Incorporation or an Operating Agreement. Lenders review them to confirm legal structure and ownership.
During due diligence, your lender will require these documents to verify the business's legal existence, ownership, and operational framework. Ensure they are current and accurately reflect the business you intend to acquire, especially regarding any changes of ownership.
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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