Create an account in the MySBA Loan Portal (lending.sba. Gov) to monitor your loan status or to make payments.Assumption of Loan Requirement Letter for disaster loan servicing action request packages. About this document and download. SBA EIDL loans are not assumable, meaning they cannot be transferred to another party. Proof of ongoing insurance on the collateral with the SBA named as mortgagee must be provided. 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. EIDL loans may only be used for specific types of business expenses. Find out legitimate ways you can use your EIDL loan.