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Release of Guarantor Requirement Letter

Summary

Requirements letter from the U.S. Small Business Administration's COVID EIDL Servicing Center (CESC) listing what is needed for SBA to consider a Release of Guarantor request on a COVID EIDL loan. It states that the letter is not a commitment by the SBA, that approval may be conditioned on curing defaults or payment of material monetary consideration, and that releasing one guarantor does not release the Original Borrower(s) or other guarantors from liability. General requirements include a signed letter detailing the request, the borrower authorization form, two years' Federal Tax Returns, a YTD Profit and Loss Statement and current Personal Financial Statements for current and substitute guarantors.

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Full text

                               U.S. SMALL BUSINESS ADMINISTRATION
                                   COVID EIDL SERVICING CENTER

                                      CESC RELEASE OF GUARANTOR
                                        REQUEST REQUIREMENTS
ATTENTION:
This requirements letter is not a commitment by the SBA. Any commitment made by the SBA will be provided
separately in writing. Approval of any request may be conditioned on curing defaults and correcting any collateral
deficiencies or issues with loan documents and/or payment of material monetary consideration.

A Release of one Guarantor(s) does not release the Original Borrower(s) and/or any Guarantor(s) from liability.
Additional documentation may be required for thorough analysis.

For the U.S. Small Business Administration (SBA) to consider a Release of Guarantor request, the below
documentation must be provided.

GENERAL REQUIREMENTS:

   1. A Letter signed and dated by all interested individuals detailing the request.
   2. Completed, signed and dated Consent to Verify Information and 3rd Party Authorization (Borrower
      Authorization) for all SBA borrower(s) and/or guarantor(s) (if any). (hyperlink to fillable PDF)
   3. Copies of the previous two years’ Federal Tax Returns for the business.
   4. Most recent YTD Profit and Loss Statement for the business.
   5. Current Personal Financial Statements for all current and any substitute guarantors
   6. Copies of the previous two years’ personal Federal Tax Returns for all current and any substitute guarantors
   7. SBA Form 912 for any substitute guarantors.
   8. If the business is permanently closed, provide Dissolution Paperwork or Final Tax Returns.
   9. Proof of Insurance as required by the SBA Loan Authorization and Agreement


   Please submit the above required information to the US Small Business Administration at the Covid EIDL
   Servicing Center as shown below.             Complete information packages may be emailed to
   Covideidlservicing@SBA.gov .


   Covid EIDL Servicing Center
   E-mail: Covideidlservicing@SBA.gov
   Box.com: Box.com - Upload files to Covid EIDL Servicing Center
   Toll Free Phone: (833) 853-5638
   Fax: (202) 481-5799

File and source

File
2025-05_CESC-Release-of-Guarantor-4.2025.pdf
Size
213,360 bytes
SHA-256
bb1e2ca14886790ff2c1ab68412b32f583acab99e7fe9e99dfe27884f44cd719
Our copy
2025-05_CESC-Release-of-Guarantor-4.2025.pdf
Original
www.sba.gov
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