Glossary · Doing the deal
In short
This is the official green light from the Small Business Administration that your loan application meets their criteria and they will guarantee a portion of it. It's a key milestone in the closing process.
Even if your lender is a Preferred Lender (PLP), the SBA still reviews and approves your loan, generating an SBA Loan Authorization. This document outlines the final terms and conditions the SBA will guarantee. Without this, your loan can't close. Track its status closely with your lender.
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.
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