Eidl Loan Forgiveness For Self Employed In Fulton

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

Description

The document is an Assumption Agreement regarding EIDL loan forgiveness for self employed individuals in Fulton, where a Borrower is indebted to the Small Business Administration (SBA). It outlines the responsibilities of the Assumptor, who agrees to assume the Borrower's indebtedness to the SBA. Key features include the obligation to continue making payments under the original Note, the condition requiring written consent from the SBA for any further encumbrances on the property, and a clarification that the Borrower's liability remains intact. Filling instructions highlight the need for accurate completion of the names, dates, principal amounts, and county details. For attorneys, partners, and legal assistants, this form serves to document the transfer of loan obligations clearly and legally protect all parties involved. Paralegals and associates may assist in gathering necessary signatures and ensuring compliance with SBA requirements. The Assumption Agreement thus ensures a structured approach to managing existing loans, particularly useful for self employed users navigating EIDL loan forgiveness in Fulton.