Glossary · The loan itself
In short
A contract outlining the responsibilities of a loan servicer, who manages all aspects of a loan after it closes, including collecting payments and handling defaults.
While you interact with your lender, they may delegate some day-to-day loan management to a third-party servicer. This agreement defines their roles and responsibilities. You don't directly sign this, but understanding it helps clarify who to contact for payment inquiries or issues.
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.
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