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 Sacramento
Category:
State:
Multi-State
County:
Sacramento
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.
As of January 2025, there are no plans to forgive outstanding SBA EIDL loans.
Mission. The U.S. Small Business Administration (SBA) helps Americans start, grow, and build resilient businesses.
The U.S. Small Business Administration (SBA) helps small businesses get funding by setting guidelines for loans and reducing lender risk. These SBA-backed loans make it easier for small businesses to get the funding they need.
As of January 2025, there are no plans to forgive outstanding SBA EIDL loans.
A certificate issued by the Small Business Administration (SBA) stating that the holder is "responsible" (in terms of capability, competency, capacity, credit, integrity, perseverance, and tenacity) for the purpose of receiving and performing a specific government contract.
As of January 2025, there are no plans to forgive outstanding SBA EIDL loans.
More info
Who is eligible for EIDL? What exactly is the difference between EIDL loan and PPP?Notice: the COVID-19 EIDL program is not accepting new applications, increase requests, or reconsiderations. Steps for Applying for an SBA Economic Injury Disaster Loan (EIDL) or any SBA Disaster Loan: 1. A personal guarantee will be required. Credit History Applicants must have a credit history acceptable to SBA. • Repayment – Applicants must show the ability to repay the loan. The SBA must review your financial statement and one for each partner, officer, director and stockholder with 20 percent or more ownership. However, EIDL loans were specifically earmarked to be used for the business. Related programs: 7(a).