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.
Eidl Loan Assumption With Credit Card In Queens
Category:
State:
Multi-State
County:
Queens
Control #:
US-00193
Format:
Word;
Rich Text
Instant download
Description
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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.
EIDLs offer advances up to $10,000 that do not need to be repaid, while PPP loans provide small business loans equal to 2.5 times their average monthly payroll, up to $10 million.
When seeking a lien release, borrowers should approach the SBA with a well-prepared case that highlights the equity in their assets and the potential for a fair settlement. It is essential to gather documentation and evidence that supports your position and demonstrate your willingness to resolve the debt.