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.The new buyer can apply for assumption of your loan thru your servicing office. SBA EIDL loans are not assumable, meaning they cannot be transferred to another party. All lenders and CDCs should be cognizant of the loan program requirements for the assumption, assignment, and sale of SBA loans. Assumption of Loan Requirement Letter for disaster loan servicing action request packages. About this document and download. The answer is that it depends so basically the way this works is the new buyer is going to need to be approved basically for that for that idle loan. Requires management to make estimates and assumptions that affect the amounts reported in the financial statements. Form, and the 90 minutes that it takes to fill out this form.