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 Eidl Loan Requirements In Philadelphia
Category:
State:
Multi-State
County:
Philadelphia
Control #:
US-00193
Format:
Word;
Rich Text
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FAQ
Businesses must meet the following criteria to qualify for economic injury: The business was directly impacted by the disaster. The business cannot cover expenses due to the disaster and/or debt payments. The business was physically located in the declared disaster area.
Eligibility requirements Be an operating business. Operate for profit. Be located in the U.S. Be small under SBA size requirements. Not be a type of ineligible business. Not be able to obtain the desired credit on reasonable terms from non-federal, non-state, and non-local government sources.
You may report fraud, waste, mismanagement, or misconduct involving SBA programs or employees either online or by calling the Office of the Inspector General (OIG) at 800-767-0385.
More info
We provide documents in 17 different languages to help you understand eligibility requirements, fill out applications, and answer frequently asked questions. To apply for an EIDL loan or advance, a business must complete an online application on the SBA website.Notice: the COVID-19 EIDL program is not accepting new applications, increase requests, or reconsiderations. Credit History Applicants must have a credit history acceptable to SBA. • Repayment – Applicants must show the ability to repay the loan. The goal is to assist business owners in filling out a disaster loan application and providing oneonone help around program information. The filing deadline to return applications for physical property damage is Nov. The deadline to apply for the EIDL program for the COVID19 pandemic disaster declaration has been extended to December 31, 2021. New funding has also been made available for SBA's Economic Injury Disaster Loans (EIDL). Credit History Applicants must have a credit history acceptable to SBA.