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 Loan Forgiveness For Eidl In King
Category:
State:
Multi-State
County:
King
Control #:
US-00193
Format:
Word;
Rich Text
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FAQ
As of January 2025, there are no plans to forgive outstanding SBA EIDL loans.
COVID-19 EIDL is not forgivable.
3508EZ: Borrowers who are self-employed with no employees OR borrowers who did not reduce employee salaries by more than 25% and did not reduce employee hours OR borrowers who reduced business activity due to COVID-19 health guidelines and did not reduce employee salaries by more than 25%
As of January 2025, there are no plans to forgive outstanding SBA EIDL loans.
As of January 2025, there are no plans to forgive outstanding SBA EIDL loans. There are a variety of challenges involved with widespread forgiveness.
As of January 2025, there are no plans to forgive outstanding SBA EIDL loans.
As of 2024, businesses with COVID-19 EIDL loans must focus on managing their repayment obligations. These loans are not eligible for forgiveness (except for the EIDL advance grants) and require full repayment.
More info
All borrowers, regardless of loan size, can use SBA's direct forgiveness portal. Applying for forgiveness using the portal can take as little as 15 minutes.Create an account in the MySBA Loan Portal (lending.sba. Gov) to monitor your loan status or to make payments. Borrowers who need assistance with forgiveness can contact SBA at our dedicated forgiveness call center: 8775522692. If small business recipients have unused SBA PPP Loan fund which they cannot pay off, they may need to consider the following options. Small businesses face unprecedented and unique financial difficulties in wake of the COVID19 pandemic. In the California counties of: Alameda, Alpine, Amador, Butte, Calaveras, Colusa, Contra Costa,. Looking to restructure or eliminate your EIDL loan? Navigating SBA loan forgiveness?