Glossary · People and paperwork
In short
A legal document proving ownership of a vehicle. If business vehicles are part of the sale, the lender will need to ensure clear title transfer to the new business entity.
For any vehicles included as collateral or assets in the deal, the lender will require the original titles to confirm ownership and to place a lien on them. Ensure the seller can provide clean titles for all vehicles to avoid delays in closing.
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