{"ok":true,"canonical_url":"https://dealroom.so/glossary/demand-for-payment","api_url":"https://dealroom.so/api/public/glossary/demand-for-payment","data_freshness":{"sba_records_through":"2026-05-31","fdic_records_through":"2026-03-31","dealroom_last_updated":"2026-06-15","timezone":"America/Chicago"},"source_summary":["Public SBA 7(a) loan records","FDIC institution data","DealRoom lender and franchise enrichment"],"term":{"slug":"demand-for-payment","term":"Demand for Payment","group":"Doing the deal","definition":"A formal notice from the lender demanding immediate repayment of the entire outstanding loan balance, usually issued after a loan default is not cured. This is a critical step before collection.","what_it_means":"If your loan remains in default after a Notice of Default, the lender may issue a Demand for Payment, accelerating the entire loan. This often precedes legal action or collateral liquidation. Responding to this demand requires immediate professional legal and financial advice.","url":"https://dealroom.so/glossary/demand-for-payment","official_sources":[{"slug":"sop-50-10","title":"SOP 50 10 — Lender and Development Company Loan Programs","official_url":"https://www.sba.gov/document/sop-50-10-lender-development-company-loan-programs","official_label":"View on SBA.gov","authority_tier":2,"publisher":"U.S. Small Business Administration","source_guide_url":"https://dealroom.so/sba-7a/sources/sop-50-10"},{"slug":"13-cfr-part-120","title":"13 CFR Part 120 — Business Loans","official_url":"https://www.ecfr.gov/current/title-13/chapter-I/part-120","official_label":"View on eCFR","authority_tier":1,"publisher":"Office of the Federal Register","source_guide_url":"https://dealroom.so/sba-7a/sources/13-cfr-part-120"}],"related":[{"slug":"notice-of-default","term":"Notice of Default","url":"https://dealroom.so/glossary/notice-of-default"},{"slug":"loan-default","term":"Loan default","url":"https://dealroom.so/glossary/loan-default"},{"slug":"cure-the-default","term":"Cure the Default","url":"https://dealroom.so/glossary/cure-the-default"},{"slug":"liquidation","term":"Liquidation","url":"https://dealroom.so/glossary/liquidation"}],"related_questions":[{"question":"What counts as \"my own money\" for the down payment?","url":"https://dealroom.so/sba-loans/basics/what-counts-as-my-own-money-for-the-down-payment"},{"question":"Can a credit card cash advance be used for my down payment?","url":"https://dealroom.so/sba-loans/basics/can-a-credit-card-cash-advance-be-used-for-my-down-payment"},{"question":"Can I use a loan from someone else for my down payment?","url":"https://dealroom.so/sba-loans/basics/can-i-use-a-loan-from-someone-else-for-my-down-payment"},{"question":"Can I use money gifted from a friend for my down payment?","url":"https://dealroom.so/sba-loans/basics/can-i-use-money-gifted-from-a-friend-for-my-down-payment"},{"question":"Is a loan secured by personal assets eligible for the down payment?","url":"https://dealroom.so/sba-7a/questions/is-a-loan-secured-by-personal-assets-eligible-for-the-down-payment"},{"question":"Can I use gifted funds from a non-relative for my down payment?","url":"https://dealroom.so/sba-7a/questions/can-i-use-gifted-funds-from-a-non-relative-for-my-down-payment"}]},"caveats":["Definitions represent DealRoom's plain-English interpretation for buyers; verify regulatory terms against the official SBA and eCFR sources listed.","Not legal, tax, or financial advice, and not an SBA eligibility determination."],"citation":{"label":"DealRoom.so Glossary — Demand for Payment","url":"https://dealroom.so/glossary/demand-for-payment","source_type":"DealRoom Data"}}