Glossary · People and paperwork
Loan closing statement
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.
What it means in a deal
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.
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 Loan 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 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?
- What is a 'personal financial statement' and why is it needed for an SBA 7(a) loan?
- What does a 'personal financial statement' entail and why is it needed for an SBA 7(a) loan?
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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