{"ok":true,"canonical_url":"https://www.capbench.com/glossary/trust-document","api_url":"https://www.capbench.com/api/public/glossary/trust-document","data_freshness":{"sba_records_through":"2026-05-31","fdic_records_through":"2026-03-31","dealroom_last_updated":"2026-06-17","timezone":"America/Chicago"},"source_summary":["Public SBA 7(a) loan records","FDIC institution data","CapBench lender and franchise enrichment"],"term":{"slug":"trust-document","term":"Trust Document","group":"People and paperwork","definition":"This legal document establishes a trust, outlining its purpose, assets, and beneficiaries. If you or the seller use a trust, the lender needs to understand it.","what_it_means":"If you or any guarantor holds significant assets in a trust, or if the business itself is owned by a trust, the lender will require a copy of the trust document. They need to ensure the trust's terms allow for the necessary personal guarantees and pledging of assets as collateral, and that there are no adverse liens.","url":"https://www.capbench.com/glossary/trust-document","official_sources":[{"slug":"sop-50-10","title":"SOP 50 10 — Lender and Development Company Loan Programs","official_url":"https://www.sba.gov/document/sop-50-10-lender-development-company-loan-programs","official_label":"View on SBA.gov","authority_tier":2,"publisher":"U.S. Small Business Administration","source_guide_url":"https://www.capbench.com/sba-7a/sources/sop-50-10"}],"related":[{"slug":"personal-guarantee","term":"Personal guarantee","url":"https://www.capbench.com/glossary/personal-guarantee"},{"slug":"collateral","term":"Collateral","url":"https://www.capbench.com/glossary/collateral"},{"slug":"guaranty","term":"Guaranty","url":"https://www.capbench.com/glossary/guaranty"}],"related_questions":[{"question":"How does the SBA determine affiliation between businesses controlled by a common trust?","url":"https://www.capbench.com/for-lenders/questions/how-does-the-sba-determine-affiliation-between-businesses-controlled-by-a-common-trust"},{"question":"What is an SBA *loan authorization* document, and why is it important?","url":"https://www.capbench.com/sba-loans/basics/what-is-an-sba-loan-authorization-document-and-why-is-it-important"},{"question":"When does common ownership through a trust or estate create affiliation for size purposes?","url":"https://www.capbench.com/for-lenders/questions/when-does-common-ownership-through-a-trust-or-estate-create-affiliation-for-size-purposes"},{"question":"What is the specific SBA policy document that addresses collateral life insurance requirements?","url":"https://www.capbench.com/sba-7a/questions/what-is-the-specific-sba-policy-document-that-addresses-collateral-life-insurance-requirem"},{"question":"What information is required to document the purchase price allocation for a business acquisition?","url":"https://www.capbench.com/sba-7a/questions/what-information-is-required-to-document-the-purchase-price-allocation-for-a-business-acqu"},{"question":"Can I use inherited money that is currently in a trust to fund my equity injection?","url":"https://www.capbench.com/sba-7a/questions/can-i-use-inherited-money-that-is-currently-in-a-trust-to-fund-my-equity-injection"}]},"caveats":["Definitions represent CapBench's plain-English interpretation for buyers; verify regulatory terms against the official SBA and eCFR sources listed.","Not legal, tax, or financial advice, and not an SBA eligibility determination."],"citation":{"label":"CapBench Glossary — Trust Document","url":"https://www.capbench.com/glossary/trust-document","source_type":"CapBench Data"}}