Glossary · The loan itself
Legal fee
In short
These are the costs for attorneys involved in drafting and reviewing loan documents and closing the acquisition. Both the lender and you will incur legal fees.
What it means in a deal
Expect to pay for the lender's attorney, whose fees are typically passed through as a closing cost. You'll also have your own attorney's fees for reviewing the purchase agreement and loan documents. Budget for these costs as they are essential to properly document and close an SBA 7(a) acquisition.
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 Legal fee
- Are there any other lender-specific fees beyond the SBA guaranty fee and ongoing servicing fee?
- Can a lender include unapproved legal fees in a Universal Purchase Package (UPP)?
- Are pre-closing legal and accounting fees eligible to be counted towards my equity injection?
- Can the lender charge application fees or underwriting fees in addition to the SBA guaranty fee?
- Can professional fees I've already paid (e.g., legal, valuation) count towards my equity injection?
- Are legal fees for closing the SBA 7(a) loan typically financed within the loan amount?
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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