Assumption of Loan Requirement Letter for disaster loan servicing action request packages. About this document and download.Proof of ongoing insurance on the collateral with the SBA named as mortgagee must be provided. The basic steps involved in assuming a loan are: The buyer and seller must agree to the terms of the assumption. SBA loans are fully assumable with SBA approval. Getting this approval, however, can be very complex. Mortgage assumption allows a buyer to take on the original loan balance at the original terms, but it doesn't account for any home equity the seller has built. You should have the option to assume the loan. Since you run the business, lenders assume there is a direct relationship between your personal credit history and the business' credit history. We'll walk you through each step of the process so you know how to fill out SBA Form 1919.