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.
Eidl Loan Rules In Clark
Category:
State:
Multi-State
County:
Clark
Control #:
US-00193
Format:
Word;
Rich Text
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FAQ
There is no provision for forgiveness on these loans, nor should anyone expect that there will be. The EIDL is a decades-old program, and if they forgive loans for this particular disaster, then borrowers for every other EIDL program are going to expect forgiveness on their loans as well. It's not happening.
Businesses must meet the following criteria to qualify for economic injury: The business was directly impacted by the disaster. The business cannot cover expenses due to the disaster and/or debt payments. The business was physically located in the declared disaster area.
There is no provision for forgiveness on these loans, nor should anyone expect that there will be. The EIDL is a decades-old program, and if they forgive loans for this particular disaster, then borrowers for every other EIDL program are going to expect forgiveness on their loans as well. It's not happening.
More info
Create an account in the MySBA Loan Portal (lending.sba. Gov) to monitor your loan status or to make payments.There are no pre-payment penalties. The first page of the application is simply to verify your eligibility for the loan program itself. Here's how to apply for the SBA Disaster Loan, and what you'll need to know to complete the application successfully. Our subordination request for Lewis Clark Trucking, LLC was declined due to a "discrepancy" on the tax transcript received for a completely separate EIDL. The application is available online (Loan Application) and requires certification that your business has suffered an economic loss.