Assumption of SBA Loan. Another option to sell a business with an SBA loan is for the buyer to assume the loan.SBA loans are fully assumable with SBA approval. 41-3 Redline 11.2022. At the contract stage, one should use the TREC 1-4 contract with the Loan Assumption Addendum attached. What Is Required to Assume an SBA 504 Loan? Assumption of Loan Requirement Letter for disaster loan servicing action request packages. About this document and download. Another option for selling a business with an SBA loan is for the buyer to assume the loan. Mortgage assumption allows a buyer to take on the original loan balance at the original terms, but it doesn't account for any home equity the seller has built.