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.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. I have received about 1.2 million dollars in EIDL loans, and I was wondering what happens if I sell the business? Assumption of Loan Requirement Letter for disaster loan servicing action request packages. About this document and download. Below is a list of items needed for Assumptions before and and after closing. The answer is that it depends so basically the way this works is the new buyer is going to need to be approved basically for that for that idle loan. 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.