Assumption of Loan Requirement Letter for disaster loan servicing action request packages. About this document and download.All lenders and CDCs should be cognizant of the loan program requirements for the assumption, assignment, and sale of SBA loans. 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. The terms of the assumption must not include a real estate contract, i.e. , the seller may not retain title to the property until an agreed upon amount is paid.