Glossary · People and paperwork
In short
A legal document that establishes a trust, outlining its terms, the assets it holds, the beneficiaries, and the powers and duties of the trustee. This document determines who controls and benefits from trust assets.
If a trust is involved in the ownership structure of the business you're buying, your lender will require a copy of the trust agreement. They'll review it to identify the grantor, trustees, and beneficiaries to determine who needs to sign loan documents and personal guarantees.
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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