Sba Form 155 - Standby Creditor'S Agreement
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1
2U.S. Small Business Administration
S
C
’
A
TANDBY
REDITOR
S
GREEMENT
SBA Loan #
SBA Loan Name
Standby Creditor
Standby Borrower
Lender
__________________________________________________________________________________ (Standby Borrower)
owes $____________________________________ principal and $____________________________________interest to
___________________________________________________________________________________ (Standby Creditor)
a s o f t h e d a t e o f t h i s A g r e e m e n t ( S t a n d b y L o a n ) ( C o p y o f S t a n d b y N o t e a t t a c h e d ) .
T o i n d u c e
__________________________________________________________________________________ (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
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Parent category: Business