Yes, you can sell a business with an SBA loan, but not without taking certain important measures. The most crucial measure is obtaining lender approval.Can An SBA 504 Loan Be Assumed? Many types of loans are not assumable. Assumption of Loan Requirement Letter for disaster loan servicing action request packages. About this document and download. Fortunately for borrowers, SBA loans, including the SBA 7(a) loan, are fully assumable with SBA approval. The SBA uses Form 413 to assess your ability to repay an SBA 7(a) or SBA 504 loan. Here's everything you need to know to make sure you get the Read 1 Answer from lawyers to Can my Texas home be used as collateral for SBA loan?