SBA loan assumption

by a searcher

1 year ago

Does anyone have any best practices or insights on the best way for a buyer to assume a seller's SBA loan?

When is it not possible? When is it possible? 
Best way to approach the bank?
What is the timeline and typical steps?
Etc.

1 like
271 views
26 comments

intermediary from Boise State University

As many have said here, in theory, an SBA loan can be assumed. However, as stated above, what is the reason for an assumption rather than a new loan? Perhaps if this is an SBA 504 deal (commercial real estate) and you want to preserve the low interest rate on the SBA piece but for a 7a loan, there likely isn't any benefit.

1 year ago | like reply | 0 likes

searcher

How does this relate to an EIDL loan?

1 year ago | like reply | 0 likes

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