What Is Required to Assume an SBA 504 Loan? Are SBA 7(a) Loans Assumable?Fortunately for borrowers, SBA loans, including the SBA 7(a) loan , are fully assumable with SBA approval. Another option to sell a business with an SBA loan is for the buyer to assume the loan. SBA loans are fully assumable with SBA approval. Assumption of Loan Requirement Letter for disaster loan servicing action request packages. About this document and download. Assumable Loans Typically Require Lender Approval; Questions? Fill out the form below to speak with a commercial real estate loan specialist. Unlike the purchase and sale contract, the SBA requires both parties to sign.