Glossary · Doing the deal
In short
Closing is the final stage of an acquisition where all legal documents are signed, funds are transferred, and ownership officially changes hands. This is the moment your 7(a) loan is funded and the business becomes yours.
The Closing involves signing the SBA Loan Authorization, promissory notes, and all purchase agreements. Ensure all Closing Conditions are met beforehand. Your attorney will coordinate with the lender's counsel to ensure a smooth transfer of assets and liabilities, making sure all liens are properly perfected.
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.
Defined by DealRoom.so 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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