Glossary · People and paperwork
In short
The entity, typically the originating bank or a third-party company, that is responsible for managing the day-to-day administration of your loan after it closes.
The servicer of record handles your loan payments, escrow accounts, and communication regarding your loan terms. Even if your loan is sold on the secondary market, you'll still deal with the servicer of record. Know who this is and how to contact them for any post-closing loan inquiries.
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.
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