Glossary · People and paperwork
In short
This is a Limited Liability Company with only one owner. It provides personal liability protection, separating your personal assets from the business's debts.
Many small businesses are structured as single-member LLCs. When you acquire one, you'll typically purchase the assets, not the entity itself, to avoid inheriting unknown liabilities. Consult legal counsel to ensure a clean asset purchase agreement and proper business registration.
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