Glossary · People and paperwork
In short
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.
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.
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.
Know what you'll need before you apply
Tell us about the deal and who's buying — we'll flag the guaranty, eligibility, and paperwork issues that slow SBA approval before they cost you time.
Free · No documents · Usually same-day