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. 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. All lenders and CDCs should be cognizant of the loan program requirements for the assumption, assignment, and sale of SBA loans. As of January 1, 2022, SBA stopped accepting applications for new COVID-19 EIDL loans or advances. It appears that successfully transferring an EIDL loan to another business or finding a unique solution with the SBA is extremely challenging and uncommon. Key Takeaways: SBA EIDL loans are not assumable, meaning they cannot be transferred to another party.