Glossary · People and paperwork
Credit file
In short
A collection of information about your past borrowing and repayment behavior, maintained by credit bureaus. Lenders use this to assess your creditworthiness.
What it means in a deal
Your credit file contains your credit report and FICO score. Lenders will pull this for all key principals to evaluate your repayment capacity and risk. Review your own credit file well before applying to identify and dispute any errors or derogatory marks.
Official sources
13 CFR Part 120 — Business Loans
Office of the Federal Register · Federal regulation
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.
Related terms
Common questions about Credit file
- How does the SBA typically review a lender's loan file in the context of a secondary market audit?
- What specific documentation is now required in the loan file for 7(a) Small Loans following the sunset of the SBSS score?
- What if my personal credit report shows a recent late payment on a minor credit card?
- Does having many recent credit inquiries on my personal credit report affect SBA 7(a) loan approval chances?
- Does the sunset of the SBSS score impact the requirement for a credit memo or documented credit analysis for 7(a) Small Loans?
- What happens if the seller's note holder files for bankruptcy during my SBA loan term?
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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