In the final step of the SBA 7(a) loan process, the borrower and lender have a closing meeting to sign the final loan documents. After this, and after the finances of the loan process are settled (generally the lender crediting any excess deposits/fees back to the borrower), the loan is closed.
After the closing meeting, the loan proceeds are disbursed. If the purpose of the loan is purchasing real estate, a business, and/or equipment, the funds usually go directly to the seller.
And with that, the loan process is complete!
