Glossary · Doing the deal
Competitive bid
In short
When multiple buyers vie for the same business, often driving up the price. As a buyer, you need to be prepared to make your best offer and show strong conviction.
What it means in a deal
In a competitive process, sellers often set deadlines for offers and may ask for "best and final" bids. Ensure your LOI is clean, your proof of funds is solid, and you've done enough initial due diligence to be confident in your offer without overpaying.
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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