Glossary · Doing the deal
In short
This is an initial assessment by a lender of your eligibility and likely loan amount based on preliminary financial information. It's a quick estimate, not a commitment.
Getting pre-qualified early helps you understand your borrowing capacity before making an offer. Lenders review your personal finances, credit, and the target business's financials to give you a ball-park. While not a formal commitment, it provides confidence and credibility when submitting an LOI. It's the first step in the loan process.
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.
Line up financing while you're under LOI
Tell us the business, the price, and your timeline — we'll match you with lenders who close deals like yours and flag anything that stalls the process.
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