This form is an assumption agreement for a Small Business Administration (SBA) loan. Party assuming the loan agrees to continue payments thereon. SBA agrees to the assumption of the loan and release of original debtor. Adapt to fit your circumstances.
Miami-Dade Florida Assumption Agreement of SBA Loan is a legal document that allows a borrower to transfer their Small Business Administration (SBA) loan obligations to another party, known as the "assumption." This agreement is necessary when a business owner wants to sell or transfer their business, but has an outstanding SBA loan. The Miami-Dade Florida Assumption Agreement of SBA Loan ensures that the assumption takes over the borrower's responsibilities, including making timely loan repayments and adhering to the terms and conditions set by the SBA. This agreement protects both parties involved and ensures the smooth transition of loan obligations. Some relevant keywords associated with this agreement include: 1. Miami-Dade Florida: This specifies the location of the agreement, emphasizing that it is specific to the Miami-Dade County in Florida. 2. Assumption Agreement: This signifies the legal document where the borrower transfers their SBA loan obligations to another party. 3. SBA Loan: The Small Business Administration loan is a federal loan program designed to provide financial assistance to small businesses. 4. Borrower: The original recipient of the SBA loan, who seeks to sell or transfer their business and loan obligations. 5. Assumption: The party that assumes the borrower's loan obligations, taking over responsibility for loan repayment. 6. Transfer: The act of moving the borrower's SBA loan obligations to another party. It is important to note that while the above information provides a general understanding of Miami-Dade Florida Assumption Agreement of SBA Loan, there may not be different types of this agreement specific to Miami-Dade County. The primary distinction lies in the specific location, Miami-Dade County, within the state of Florida.Miami-Dade Florida Assumption Agreement of SBA Loan is a legal document that allows a borrower to transfer their Small Business Administration (SBA) loan obligations to another party, known as the "assumption." This agreement is necessary when a business owner wants to sell or transfer their business, but has an outstanding SBA loan. The Miami-Dade Florida Assumption Agreement of SBA Loan ensures that the assumption takes over the borrower's responsibilities, including making timely loan repayments and adhering to the terms and conditions set by the SBA. This agreement protects both parties involved and ensures the smooth transition of loan obligations. Some relevant keywords associated with this agreement include: 1. Miami-Dade Florida: This specifies the location of the agreement, emphasizing that it is specific to the Miami-Dade County in Florida. 2. Assumption Agreement: This signifies the legal document where the borrower transfers their SBA loan obligations to another party. 3. SBA Loan: The Small Business Administration loan is a federal loan program designed to provide financial assistance to small businesses. 4. Borrower: The original recipient of the SBA loan, who seeks to sell or transfer their business and loan obligations. 5. Assumption: The party that assumes the borrower's loan obligations, taking over responsibility for loan repayment. 6. Transfer: The act of moving the borrower's SBA loan obligations to another party. It is important to note that while the above information provides a general understanding of Miami-Dade Florida Assumption Agreement of SBA Loan, there may not be different types of this agreement specific to Miami-Dade County. The primary distinction lies in the specific location, Miami-Dade County, within the state of Florida.
