Glossary · Doing the deal
In short
The ongoing management of a loan, including processing payments, handling inquiries, and taking action if the borrower defaults.
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.
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.
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