Glossary · Doing the deal
In short
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.
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.
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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