SBA Loan - Can SBA take lien on the next house we buy?

February 20, 2025
by a searcher in Nashville, TN, USA
Will the SBA/the bank have a right to take a lien against any future houses we buy while we still have an SBA loan balance? They have a lien on our current primary residence but anticipate moving in 1-2 years and renting out our current residence (the one with the Lien currently). If the SBA can take any position on that, then we might make different financial decision in the short term. We are in the early stages of exploring this option so wanted to get community input in addition to asking our lender directly
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA
Please keep in mind however that you have signed a personal guarantee on your SBA loan. If you were to ever default on the loan and they were to pursue you under that guarantee, any assets you own at that point would be exposed. That can include assets acquired post-closing.
If you would like to discuss further you can reach me here or directly at redacted
from University of Southern California in Los Angeles, CA, USA