As know as the SBA landlord subordination agreement
The landlord is “subordinating” their rights to your collateral (business assets) in case you default on your SBA loan. In other words, the lender gets first right of refusal over the business assets. However, the landlord is not waiving his or her rights entirely. They are giving the first rights to the lender. Normally landlords collect the first and last month lease payments up front and also a security deposit. For most scenarios this offsets the risk that the landlord is taking by signing the subordination agreement.