Eidl Loan Forgiveness For Sole Proprietor In Bronx

• Category: Small Business - Loans and Lending
• State: Multi-State
• County: Bronx
• Control #: US-00193
• Format: Word; Rich Text

Description

The EIDL Loan Forgiveness for Sole Proprietor in Bronx document outlines the terms of an Assumption Agreement regarding a loan secured by the Small Business Administration (SBA). This form is vital for sole proprietors seeking loan forgiveness under the Economic Injury Disaster Loan (EIDL) program, as it addresses the transfer of loan obligations from one party to another while ensuring compliance with existing terms. Key features include details on the original borrower, the new assumptor, and the conditions under which the SBA will consent to the assumption of the loan. Users must fill in specific details such as the original loan amount, borrower and assumptor names, and relevant dates. The form requires signatures in the presence of a notary public to validate the agreement. This document is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants working with sole proprietors in Bronx who need to navigate the loan assumption process, ensuring that the necessary legal protections and obligations are preserved while seeking loan forgiveness.