{"ok":true,"canonical_url":"https://dealroom.so/glossary/servicing-and-collection","api_url":"https://dealroom.so/api/public/glossary/servicing-and-collection","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":"servicing-and-collection","term":"Servicing and Collection","group":"Doing the deal","definition":"The ongoing management of a loan, including processing payments, handling inquiries, and taking action if the borrower defaults.","what_it_means":"After your 7(a) loan closes, your lender is responsible for servicing it, collecting payments, and ensuring compliance with loan terms. If you default, the lender initiates collection efforts, which can include enforcing personal guarantees or liquidating collateral. Understanding this process is key to managing your obligations.","url":"https://dealroom.so/glossary/servicing-and-collection","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":"loan-default","term":"Loan default","url":"https://dealroom.so/glossary/loan-default"},{"slug":"liquidation-plan","term":"Liquidation Plan","url":"https://dealroom.so/glossary/liquidation-plan"},{"slug":"personal-guarantee","term":"Personal guarantee","url":"https://dealroom.so/glossary/personal-guarantee"},{"slug":"recourse","term":"Recourse","url":"https://dealroom.so/glossary/recourse"}],"related_questions":[{"question":"What minimum efforts must a lender demonstrate in collection and recovery before submitting a liquidation plan to the SBA?","url":"https://dealroom.so/for-lenders/questions/what-minimum-efforts-must-a-lender-demonstrate-in-collection-and-recovery-before-submittin"},{"question":"How is the ongoing servicing fee calculated and remitted to the SBA?","url":"https://dealroom.so/for-lenders/questions/how-is-the-ongoing-servicing-fee-calculated-and-remitted-to-the-sba"},{"question":"How are the ongoing servicing fees for an SBA 7(a) loan calculated and paid?","url":"https://dealroom.so/sba-7a/questions/how-are-the-ongoing-servicing-fees-for-an-sba-7-a-loan-calculated-and-paid"},{"question":"Are there any other lender-specific fees beyond the SBA guaranty fee and ongoing servicing fee?","url":"https://dealroom.so/sba-7a/questions/are-there-any-other-lender-specific-fees-beyond-the-sba-guaranty-fee-and-ongoing-servicing"},{"question":"What if my personal credit report shows a minor collection from several years ago?","url":"https://dealroom.so/sba-7a/questions/what-if-my-personal-credit-report-shows-a-minor-collection-from-several-years-ago"},{"question":"What minimum collection efforts must a lender demonstrate before submitting a 7(a) liquidation plan?","url":"https://dealroom.so/for-lenders/questions/what-minimum-collection-efforts-must-a-lender-demonstrate-before-submitting-a-7-a-liquidat"}]},"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 — Servicing and Collection","url":"https://dealroom.so/glossary/servicing-and-collection","source_type":"DealRoom Data"}}