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.Assumption of Loan Requirement Letter for disaster loan servicing action request packages. About this document and download. Create an account in the MySBA Loan Portal (lending.sba. Gov) to monitor your loan status or to make payments. We managed the assumption of seller's CMBS non-recourse conduit loan for our client for the Holiday Inn Express of Mooresville, NC. A mortgage assumption takes place when the buyer takes over the seller's existing mortgage at closing in lieu of getting a new loan. My loan agent said you'd have to come up with the difference of the loan amount. So house for sale with assumable loan at 2.5 for sale at 650K.