Glossary · Doing the deal
Perfected
In short
Refers to the legal process that establishes a lender's priority claim over collateral. For a buyer, ensuring the SBA loan's lien is perfected is critical for the deal to close.
What it means in a deal
Your SBA lender will "perfect" their security interest in the business's assets by filing a UCC-1 financing statement. This public record gives the lender priority over other creditors in case of default. Verify that all necessary filings are correctly made to secure the collateral for your loan.
Official sources
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
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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