Create an account in the MySBA Loan Portal (lending.sba. Gov) to monitor your loan status or to make payments.Assumption of Loan Requirement Letter for disaster loan servicing action request packages. About this document and download. Key Takeaways: SBA EIDL loans are not assumable, meaning they cannot be transferred to another party. All lenders and CDCs should be cognizant of the loan program requirements for the assumption, assignment, and sale of SBA loans. Has anyone had any luck with an assumption or transfer of an EIDL? I'm wanting to sell my business and have the buyer assume the loan. EIDL loans may only be used for specific types of business expenses. Find out legitimate ways you can use your EIDL loan.