Assumption of Loan Requirement Letter for disaster loan servicing action request packages. About this document and download.Proof of ongoing insurance on the collateral with the SBA named as mortgagee must be provided. Payment may be made in the form of a Personal Check, Certified Bank Check, Money Order and Attorney's Check made payable to the Suffolk County Clerk. Business Forms Payment. Are SBA 7(a) Loans Assumable? Fortunately for borrowers, SBA loans, including the SBA 7(a) loan , are fully assumable with SBA approval. Virtual Disaster Loan Outreach Center (VDLOC). Interested in becoming a Bank of America Student Leader? Check out the eligibility criteria for our 8-week summer program to see if you qualify.