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 Orange
Category:
State:
Multi-State
County:
Orange
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.
As of January 2025, there are no plans to forgive outstanding SBA EIDL loans.
COVID-19 EIDL is not forgivable.
The Florida Disaster Fund distributes funds to service organizations that will serve individuals within their communities with disaster response and recovery. If you have additional questions about the Florida Disaster Fund, please call (850) 414-7400 or email info@volunteerflorida.
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%
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 received a PPP loan prior to the program closing on May 31, 2021 can now apply for forgiveness. The law provides that EIDL loan advances will no longer be deducted from PPP loan forgiveness. Unfortunately, there is no current program for complete EIDL loan forgiveness. A business may qualify for both an EIDL and a physical disaster loan. The only way these the EIDL loans will be forgiven is If the house passes a bill. Targeted EIDL Advance: Forgiveness.