Eidl Loan Forgiveness For Sole Proprietor In Collin

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

Description

The EIDL Loan Forgiveness for Sole Proprietor in Collin is a form designed for sole proprietors seeking forgiveness on loans obtained through the Economic Injury Disaster Loan program. This form outlines the responsibilities of the Borrower and Assumptor regarding the repayment obligations to the Small Business Administration (SBA). Key features include the ability for Assumptors to assume loan obligations, ensuring that both the original Borrower and the Assumptor remain liable unless explicitly released by the SBA. For filling, users must provide accurate loan details, personal information, and notarization to validate the agreement. The form can be edited to reflect any modifications agreed upon by the SBA and the Assumptor. Specific use cases are particularly relevant for attorneys, partners, owners, associates, paralegals, and legal assistants, who may need to facilitate the transition of obligations in property sales or financial restructuring cases. This form also serves to maintain compliance with SBA requirements while providing a clear path for financial responsibility under the loan agreements.