Loan needing to be paid? Day is checked (7)
I believe the answer is:
subdued
'checked' is the definition.
(subduing is a kind of checking)
'loan needing to be paid? day' is the wordplay.
'loan' becomes 'sub' (I've seen this before).
'needing' is a charade indicator (letters next to each other).
'to be paid?' becomes 'due'.
'day' becomes 'd' (abbreviation for day).
'sub'+'due'+'d'='SUBDUED'
'is' acts as a link.
(Other definitions for subdued that I've seen before include "Overpowered" , "reserved" , "'Restrained, low-key (7)'" , "Quiet; repressed" , "Quietened, brought under control" .)