Glossary · Doing the deal
Closing Date(Close of escrow)
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.
What it means in a deal
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.
Related terms
Common questions about Closing Date
- Does a personal guaranty extend to my personal assets acquired after the loan closing date?
- What happens if a buyer fails to complete their required equity injection by the closing date?
- What happens if a buyer fails to complete their required cash equity injection by the closing date?
- What happens if the seller's standby note is not properly subordinated or documented by the closing date?
- If I need to change the closing date for my acquisition, how does that affect the SBA loan approval?
- How long is an SBA 7(a) loan authorization typically valid from the E-Tran approval date?
Defined by CapBench 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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