{"ok":true,"canonical_url":"https://dealroom.so/glossary/closing-date","api_url":"https://dealroom.so/api/public/glossary/closing-date","data_freshness":{"sba_records_through":"2026-05-31","fdic_records_through":"2026-03-31","dealroom_last_updated":"2026-06-15","timezone":"America/Chicago"},"source_summary":["Public SBA 7(a) loan records","FDIC institution data","DealRoom lender and franchise enrichment"],"term":{"slug":"closing-date","term":"Closing Date","aka":"Close of escrow","group":"Doing the deal","definition":"The closing date is the final day when all legal documents are signed, funds are exchanged, and ownership officially transfers. This is the culmination of your acquisition process.","what_it_means":"On the closing date, you'll sign the loan agreement, promissory note, and other legal documents, and the seller will transfer the business assets or stock to you. Ensure all contingencies are met and all parties are ready to execute the final paperwork. This is when the business becomes yours.","url":"https://dealroom.so/glossary/closing-date","official_sources":[],"related":[{"slug":"loan-agreement","term":"Loan agreement","url":"https://dealroom.so/glossary/loan-agreement"},{"slug":"asset-purchase","term":"Asset purchase","url":"https://dealroom.so/glossary/asset-purchase"},{"slug":"stock-purchase","term":"Stock purchase","url":"https://dealroom.so/glossary/stock-purchase"},{"slug":"first-disbursement","term":"First Disbursement","url":"https://dealroom.so/glossary/first-disbursement"}],"related_questions":[{"question":"Does a personal guaranty extend to my personal assets acquired after the loan closing date?","url":"https://dealroom.so/sba-7a/questions/does-a-personal-guaranty-extend-to-my-personal-assets-acquired-after-the-loan-closing-date"},{"question":"What happens if a buyer fails to complete their required equity injection by the closing date?","url":"https://dealroom.so/sba-7a/questions/what-happens-if-a-buyer-fails-to-complete-their-required-equity-injection-by-the-closing-d"},{"question":"What happens if a buyer fails to complete their required cash equity injection by the closing date?","url":"https://dealroom.so/sba-7a/questions/what-happens-if-a-buyer-fails-to-complete-their-required-cash-equity-injection-by-the-clos"},{"question":"What happens if the seller's standby note is not properly subordinated or documented by the closing date?","url":"https://dealroom.so/sba-7a/questions/what-happens-if-the-seller-s-standby-note-is-not-properly-subordinated-or-documented-by-th"},{"question":"If I need to change the closing date for my acquisition, how does that affect the SBA loan approval?","url":"https://dealroom.so/sba-7a/questions/if-i-need-to-change-the-closing-date-for-my-acquisition-how-does-that-affect-the-sba-loan-"},{"question":"How long is an SBA 7(a) loan authorization typically valid from the E-Tran approval date?","url":"https://dealroom.so/for-lenders/questions/how-long-is-an-sba-7-a-loan-authorization-typically-valid-from-the-e-tran-approval-date"}]},"caveats":["Definitions represent DealRoom's plain-English interpretation for buyers; verify regulatory terms against the official SBA and eCFR sources listed.","Not legal, tax, or financial advice, and not an SBA eligibility determination."],"citation":{"label":"DealRoom.so Glossary — Closing Date","url":"https://dealroom.so/glossary/closing-date","source_type":"DealRoom Data"}}