{"ok":true,"canonical_url":"https://dealroom.so/glossary/loan-closing-statement","api_url":"https://dealroom.so/api/public/glossary/loan-closing-statement","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":"loan-closing-statement","term":"Loan closing statement","group":"People and paperwork","definition":"A detailed document outlining all funds disbursed and received, fees, and charges related to your SBA 7(a) loan and the business acquisition. It ensures transparency and accuracy.","what_it_means":"This statement, often prepared by the closing attorney, itemizes the entire flow of funds, including your equity injection, the loan proceeds, seller note, broker fees, legal fees, and working capital. Review it meticulously before signing to confirm all numbers align with your understanding and the LOI.","url":"https://dealroom.so/glossary/loan-closing-statement","official_sources":[{"slug":"sop-50-10","title":"SOP 50 10 — Lender and Development Company Loan Programs","official_url":"https://www.sba.gov/document/sop-50-10-lender-development-company-loan-programs","official_label":"View on SBA.gov","authority_tier":2,"publisher":"U.S. Small Business Administration","source_guide_url":"https://dealroom.so/sba-7a/sources/sop-50-10"}],"related":[{"slug":"lender-closing-costs","term":"Lender closing costs","url":"https://dealroom.so/glossary/lender-closing-costs"},{"slug":"equity-injection","term":"Equity injection","url":"https://dealroom.so/glossary/equity-injection"},{"slug":"seller-note","term":"Seller note","url":"https://dealroom.so/glossary/seller-note"},{"slug":"total-project-costs","term":"Total project costs","url":"https://dealroom.so/glossary/total-project-costs"}],"related_questions":[{"question":"What if my personal financial statement shows low liquid assets?","url":"https://dealroom.so/sba-loans/basics/what-if-my-personal-financial-statement-shows-low-liquid-assets"},{"question":"How important is my personal financial statement for an SBA 7(a) loan application?","url":"https://dealroom.so/sba-7a/questions/how-important-is-my-personal-financial-statement-for-an-sba-7-a-loan-application"},{"question":"When is SBA Form 912, Statement of Personal History, specifically required for 7(a) loan applicants?","url":"https://dealroom.so/for-lenders/questions/when-is-sba-form-912-statement-of-personal-history-specifically-required-for-7-a-loan-appl"},{"question":"What is the significance of the 'Statement of Personal History' form for an SBA 7(a) loan?","url":"https://dealroom.so/sba-loans/basics/what-is-the-significance-of-the-statement-of-personal-history-form-for-an-sba-7-a-loan"},{"question":"What is a 'personal financial statement' and why is it needed for an SBA 7(a) loan?","url":"https://dealroom.so/sba-loans/basics/what-is-a-personal-financial-statement-and-why-is-it-needed-for-an-sba-7-a-loan"},{"question":"What does a 'personal financial statement' entail and why is it needed for an SBA 7(a) loan?","url":"https://dealroom.so/sba-7a/questions/what-does-a-personal-financial-statement-entail-and-why-is-it-needed-for-an-sba-7-a-loan"}]},"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 — Loan closing statement","url":"https://dealroom.so/glossary/loan-closing-statement","source_type":"DealRoom Data"}}