Glossary · People and paperwork
Affidavit
In short
A written statement of facts voluntarily made under oath or affirmation, typically before a notary public or other authorized officer.
What it means in a deal
You might encounter affidavits during legal proceedings or specific closing requirements. For example, a seller might provide an affidavit attesting to the absence of certain liabilities or liens on the business assets. Always ensure any affidavit is truthful and accurate, as false statements can carry severe penalties.
Related terms
Defined by CapBench 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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