Glossary · Doing the deal
Closing procedure
In short
The final steps to legally transfer ownership and fund the transaction, ensuring all conditions from the purchase agreement are met. Buyers need to understand this process to anticipate tasks and deadlines.
What it means in a deal
This involves signing loan documents, transferring funds, and filing legal paperwork. As a buyer, you'll work closely with your lender's closing counsel to ensure all SBA requirements are satisfied, including proper collateralization and equity injection.
Official sources
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.
Related terms
Common questions about Closing procedure
- What is the correct procedure for a lender to amend an E-Tran application after initial submission but before authorization?
- What is the correct procedure for a lender to request a material amendment to an already authorized 7(a) loan in E-Tran?
- Which pre-closing business expenses can count towards equity?
- When is an amended SBA loan authorization required after closing?
- Can working capital be used for unexpected business expenses after closing?
- Is a cash infusion into the business prior to closing considered equity?
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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