Glossary · Doing the deal
Closing Statement
In short
This document itemizes all funds exchanged and costs incurred by both buyer and seller at the time of closing. It's the final financial summary of the transaction.
What it means in a deal
Your closing statement, often prepared by the escrow agent or attorney, details the purchase price, loan proceeds, equity injection, closing costs, and prorations. Review it carefully before signing to ensure all figures match your understanding and the loan authorization. It's the definitive record of the financial aspects of the deal.
Related terms
Common questions about Closing Statement
- What if my personal financial statement shows low liquid assets?
- How important is my personal financial statement for an SBA 7(a) loan application?
- When is an SBA Form 912 (Statement of Personal History) required for a non-owner guarantor?
- When is SBA Form 912, Statement of Personal History, specifically required for 7(a) loan applicants?
- What is the significance of the 'Statement of Personal History' form for an SBA 7(a) loan?
- When is an SBA Form 912 (Statement of Personal History) specifically required for a non-owner guarantor?
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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