This form is an assumption agreement for a Small Business Administration (SBA) loan. Party assuming the loan agrees to continue payments thereon. SBA agrees to the assumption of the loan and release of original debtor. Adapt to fit your circumstances.
Sba Eidl Loan Requirements In Broward
Category:
State:
Multi-State
County:
Broward
Control #:
US-00193
Format:
Word;
Rich Text
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FAQ
Businesses must meet the following criteria to qualify for economic injury: The business was directly impacted by the disaster. The business cannot cover expenses due to the disaster and/or debt payments. The business was physically located in the declared disaster area.
Eligibility requirements Be an operating business. Operate for profit. Be located in the U.S. Be small under SBA size requirements. Not be a type of ineligible business. Not be able to obtain the desired credit on reasonable terms from non-federal, non-state, and non-local government sources.
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Apply online for an SBA disaster assistance loan. SBA will send an inspector to estimate the cost of damage, once your application is completed and submitted.SBA can provide loans to help cover the costs and expenses that your business would have been able to handle if the disaster did not happen. What are the Credit Requirements? • Credit History – Applicants must have a credit history acceptable to SBA. EIDL assistance is available regardless of whether the business suffered any physical property damage. • Businesses, private nonprofits and cooperatives with fewer than 500 employees. Need an SBA-approved lender to apply for PPP? SBA takes real estate as collateral when it is available.