SBA Loan Assumption
December 23, 2020
by an investor from New York University in St. Louis Metropolitan Area, USA
Are there any benefits to a buyer assuming an existing SBA loan on a business? I've been told the buyer who wants to assume the loan would need to apply for the assumption just like a new borrower, and the bank and SBA would conduct a complete review. Plus the initial borrower would have to remain as a guarantor for a period of time.