Can an E2 Visa holder assume an EIDL Loan

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by a searcher
in Las Vegas, NV, USA

2yrs ago

Can an E2 Visa holder assume an EIDL Loan

Random question - As an E2 Visa holder, can an EIDL loan be assumed as part of a business acquisition?

If so, how long is the process?
Will the rate stay the same or change?
What other pitfalls are there?

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reply by a searcher 2yrs ago
in Las Vegas, NV, USA

Thanks for your reply, very helpful

reply by an investor 1yr ago
from Colby College in Miami Beach, FL, USA

In my experience, E2 visa holders are only eligible for SBA loan (like 7a) after working for the business for at least 1 year.