Glossary · Doing the deal
In short
This means the lender has taken all necessary legal steps to establish their claim to your collateral, making it enforceable against other creditors in case of default. It gives them priority.
Your SBA lender will require a perfected security interest in all business assets and often personal assets like real estate. Ensure your attorney confirms the lender's lien position is first on all collateral, protecting the lender and, indirectly, your loan's terms.
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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