Glossary · Doing the deal
In short
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.
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.
13 CFR Part 120 — Business Loans
Office of the Federal Register · Federal regulation
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.
Defined by DealRoom.so 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.
Line up financing while you're under LOI
Tell us the business, the price, and your timeline — we'll match you with lenders who close deals like yours and flag anything that stalls the process.
Free · No documents · Usually same-day