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What happens to my loan if I sell or close my business?

  • Updated

At SAPI, we understand that unexpected circumstances can arise, which may cause difficulties in repaying your outstanding loan balance. In such cases, your loan may be considered in default under your loan agreement if you close or sell your business without repaying the loan balance.

In the event of default, we may demand immediate repayment of the outstanding balance within a specified number of days. We may also debit any past due amounts from your business' SAPI-linked bank account and increase your repayment rate. To learn more about the terms and conditions, kindly refer to your loan agreement.

We want to reassure you that we're here to help and support you during these challenging times.  Please don't hesitate to get in touch with us, and our friendly team will be happy to discuss the next steps with you.

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