Glossary · People and paperwork
In short
This is a legal document where you, as the borrower, promise to repay a specific amount of money to the lender. It outlines the agreed-upon terms, including the interest rate and repayment schedule.
This is the foundational legal document detailing your obligation to repay the SBA 7(a) loan. It specifies the principal amount, the interest rate (which is often variable), the amortization period, and all other terms of your debt. Review it meticulously to fully grasp your exact repayment responsibilities and any potential prepayment penalties.
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.
Free · No documents · Usually same-day