Glossary · Doing the deal
In short
These are statements of fact made by the seller about the business at the time of sale, backed by a promise that they are true. They protect you if the business isn't as described.
Your purchase agreement will be packed with these. Scrutinize them during Due diligence to ensure they cover all critical aspects of the business, such as financials, contracts, and legal status. If they turn out to be false post-closing, you may have recourse against the seller, potentially involving an Escrow / holdback.
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.
Free · No documents · Usually same-day