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 Franklin
Category:
State:
Multi-State
County:
Franklin
Control #:
US-00193
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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.
In addition to meeting the numerical standards for small, your business must: Be a for-profit business of any legal structure. Be independently owned and operated. Not be nationally dominant in its field. Be physically located and operate in the U.S. or its territories.
How to fill out SBA form 413 Provide basic business information. Report your assets. Report your liabilities. List your source of income and contingent liabilities to complete section 1. Detail your notes payable to banks and others in section 2. Detail the status of your stocks and bonds for section 3.
Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
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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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. Here's how to apply for the SBA Disaster Loan, and what you'll need to know to complete the application successfully.We provide documents in 17 different languages to help you understand eligibility requirements, fill out applications, and answer frequently asked questions. Repayment Applicants must show the ability to repay all loans.