Dis·burse'ment noun [ Confer French déboursement .] 1. The act of disbursing or paying out. « The disbursement of the public moneys.» U. S. Statutes. 2. That which is disbursed or paid out; as, the annual disbursements exceed the income. Found on http://www.encyclo.co.uk/webster/D/75
The actual payout to borrower of loan funds, in whole or part. It may be concurrent with the closing or follow it. Found on https://www.encyclo.co.uk/local/21181