{"ok":true,"canonical_url":"https://dealroom.so/glossary/pre-closing","api_url":"https://dealroom.so/api/public/glossary/pre-closing","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":"pre-closing","term":"Pre-Closing","group":"Doing the deal","definition":"This is the crucial period after your loan is approved but before funds are disbursed, where all final documents are prepared and reviewed. It's when you ensure everything is ready for a smooth transfer of ownership and funds.","what_it_means":"During Pre-Closing, you'll work with your lender and legal counsel to finalize all loan documents, purchase agreements, and ensure all conditions precedent are met. Expect to sign numerous forms, verify insurance, and confirm all closing costs. Your job is to meticulously review everything.","url":"https://dealroom.so/glossary/pre-closing","official_sources":[],"related":[{"slug":"loan-sale-agreement","term":"Loan Sale Agreement","url":"https://dealroom.so/glossary/loan-sale-agreement"},{"slug":"due-diligence","term":"Due diligence","url":"https://dealroom.so/glossary/due-diligence"},{"slug":"escrow-holdback","term":"Escrow / holdback","url":"https://dealroom.so/glossary/escrow-holdback"},{"slug":"commitment-letter","term":"Commitment Letter","url":"https://dealroom.so/glossary/commitment-letter"}],"related_questions":[{"question":"Which pre-closing business expenses can count towards equity?","url":"https://dealroom.so/sba-7a/questions/which-pre-closing-business-expenses-can-count-towards-equity"},{"question":"Are pre-closing legal and accounting fees eligible to be counted towards my equity injection?","url":"https://dealroom.so/sba-7a/questions/are-pre-closing-legal-and-accounting-fees-eligible-to-be-counted-towards-my-equity-injecti"},{"question":"If I contribute inventory purchased pre-closing for the acquired business, can it count as equity?","url":"https://dealroom.so/sba-7a/questions/if-i-contribute-inventory-purchased-pre-closing-for-the-acquired-business-can-it-count-as-"},{"question":"Can pre-closing legal and accounting fees associated with the acquisition be counted towards my equity injection?","url":"https://dealroom.so/sba-7a/questions/can-pre-closing-legal-and-accounting-fees-associated-with-the-acquisition-be-counted-towar"},{"question":"Can I use pre-closing expenses, like a business broker's fee, as part of my equity injection?","url":"https://dealroom.so/sba-7a/questions/can-i-use-pre-closing-expenses-like-a-business-broker-s-fee-as-part-of-my-equity-injection"},{"question":"What documentation is required if a business owner contributes pre-existing business equipment as equity?","url":"https://dealroom.so/for-lenders/questions/what-documentation-is-required-if-a-business-owner-contributes-pre-existing-business-equip"}]},"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 — Pre-Closing","url":"https://dealroom.so/glossary/pre-closing","source_type":"DealRoom Data"}}