How can we help?

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

  • Updated

Here at SAPI, we acknowledge that unforeseen circumstances can give rise to challenges in fulfilling your outstanding loan obligation. In scenarios where you decide to close or sell your business without settling the loan balance, your loan agreement may deem your loan as being in default.

Should such a situation arise, the terms of your loan agreement may necessitate immediate repayment of the outstanding balance within a specified timeframe. Additionally, we may initiate the debiting of any overdue amounts from your business' SAPI-linked bank account and potentially adjust your repayment rate accordingly. For more comprehensive insight into the specifics, we encourage you to consult your loan agreement.

It's important to underscore our commitment to offering assistance and support, particularly in times of adversity. Please rest assured that you needn't navigate these challenges alone. Feel free to reach out to us, and our approachable team will be more than happy to explore the appropriate course of action together. Your well-being and successful resolution remain at the core of our concern.

Was this article helpful?