Glossary · People and paperwork
Officer
In short
A high-level manager in a corporation, such as a CEO, CFO, or President, elected by the board of directors. They are responsible for the daily operations and strategic direction of the company.
What it means in a deal
If the business you're buying is a corporation, you'll become an officer upon acquisition. The SBA generally requires any officer who owns 20% or more of the company to personally guarantee the loan. Ensure you understand the corporate structure and key roles.
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 Officer
- What is the role of an SBA Business Development Officer (BDO) in my loan process?
- What specific factors trigger affiliation for size standards based on common management, officers, or directors?
- How are common officers or shared key employees between businesses evaluated for affiliation under SBA size standards?
- Beyond common officers/directors, how does a lender assess affiliation through "shared key employee functions" for SBA size standards?
- What specific scenarios involving shared directors, officers, or key employees constitute 'common management' triggering affiliation for SBA size determination?
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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