Sba Form 155 PDF Details

Are you looking for a reliable and easy-to-understand guide to complete the SBA Form 155? If so, then you’re in the right place! In this blog post, we will provide an in-depth overview of the form’s requirements - from its detailed instructions and application process to helping you understand how submitting this form impacts your business. Through our user-friendly guide, you can confidently navigate and complete your SBA Form 155 with ease. Here's what we'll cover:

QuestionAnswer
Form NameSba Form 155
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namessba standby, sba 155, form 155, agreement standby

Form Preview Example

U.S. Small Business Administration

STANDBY CREDITOR’S AGREEMENT

SBA Loan #

SBA Loan Name

Standby Creditor

Standby Borrower

Lender

__________________________________________________________________________________ (Standby Borrower)

owes $____________________________________ principal and $____________________________________interest to

___________________________________________________________________________________ (Standby Creditor)

as of the date of this Agreement (Standby Loan) (Copy of Standby Note attached). To induce

__________________________________________________________________________________ (Lender) to make an

SBA guaranteed loan to Standby Borrower or guaranteed by Standby Borrower, Loan Number ______________________

in the amount of $___________________________________________________ (Lender’s Loan).

Standby Creditor agrees: (Check only one box)

1.

To accept no further payments on the Standby Loan until Lender’s Loan is satisfied

To accept interest only payments at a rate of ___________% per annum (no principal payments) on Standby Loan until

Lender’s Loan is satisfied or until notified by Lender to stop accepting payments,

To accept payments of principal and interest at the rate of ___________% per annum on the Standby Loan unless

notified by Lender to stop accepting payments.

To accept payments of principal and interest at the rate of ___________% per annum beginning

on _____________________________.

2.To turn over to Lender payments received by Standby Creditor from Standby Borrower in violation of this Agreement within 15 days of receipt.

SBA Form 155 (9/98) Previous editions obsolete

Page 1/2

3.To take no action to enforce claims against Standby Borrower on the Standby Loan until Lender’s Loan is satisfied.

4.To take no action against Standby Borrower’s collateral, without written consent from the Lender, until Lender’s Loan is satisfied.

5.To sign appropriate documentation required by Lender to subordinate to Lender’s Loan secured interests in collateral that secures the Standby Loan.

6.Lender, in its sole discretion, may take any action without affecting this Agreement, including but not limited to the following:

a.Modify the terms of Lender’s Loan.

b.Grant an extension or renewal of Lender’s Loan.

c.Defer payments or enter into a workout agreement on Lender’s Loan.

d.Release or substitute collateral securing Lender’s Loan.

e.Forbear from collecting on existing collateral or requiring additional collateral.

f.Declare a default on Lender’s Loan and notify Standby Creditor to stop accepting payments.

g.Agree to release, compromise, or settlement of Lender’s Loan.

7.This Agreement applies to any successor to the Standby Creditor or assignee of this Agreement or of Standby Creditor’s Loan, including any bankruptcy trustee or receiver or guarantors or sureties of Standby Creditor Loan.

8.Additional Loans made by Standby Creditor will be subject to the terms of this Agreement, unless Lender agrees otherwise in writing.

Dated: _________________________________

Standby Creditor: _________________________________________________________________

By: (signature) ________________________________________________________

(name) ___________________________________________________________

SBA Form 155 (9/98) Previous editions obsolete

Page 2/2

How to Edit Sba Form 155 Online for Free

With the help of the online tool for PDF editing by FormsPal, it is easy to complete or modify sba standby creditor agreement right here. Our editor is constantly developing to deliver the very best user experience attainable, and that is due to our commitment to continuous improvement and listening closely to testimonials. Here's what you will want to do to begin:

Step 1: First of all, open the editor by pressing the "Get Form Button" above on this page.

Step 2: The tool gives you the capability to change nearly all PDF forms in various ways. Change it by writing personalized text, correct existing content, and add a signature - all when it's needed!

This PDF form requires specific details; in order to ensure consistency, take the time to take heed of the next guidelines:

1. Fill out the sba standby creditor agreement with a selection of necessary blank fields. Consider all of the important information and make sure not a single thing left out!

form standby conclusion process described (stage 1)

2. Given that the last array of fields is done, it is time to include the necessary particulars in Lender to make an, SBA guaranteed loan to Standby, in the amount of Lenders Loan, Standby Creditor agrees Check only, To accept no further payments on, To accept interest only payments, Lenders Loan is satisfied or until, To accept payments of principal, notified by Lender to stop, To accept payments of principal, To turn over to Lender payments, and within days of receipt allowing you to proceed to the next step.

The way to complete form standby part 2

3. Completing Dated, Standby Creditor, signature, name, SBA Form Previous editions, and Page is essential for the next step, make sure to fill them out in their entirety. Don't miss any details!

form standby conclusion process detailed (portion 3)

Regarding Dated and Standby Creditor, make sure that you get them right in this section. The two of these are the key fields in the form.

Step 3: Immediately after looking through your fields you've filled out, press "Done" and you are good to go! Obtain the sba standby creditor agreement as soon as you sign up for a 7-day free trial. Quickly access the form inside your FormsPal account, with any modifications and changes conveniently preserved! When you work with FormsPal, you're able to complete documents without being concerned about information leaks or data entries being distributed. Our protected system makes sure that your personal data is kept safely.

Sba Form 155 isn’t the one you’re looking for?

Related Documents