Sba Environmental Indemnification Agreement Form

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If the results of the environmental investigation show that the property is contaminated and the lender wishes to continue the loan, the lender must comply with the requirements set out in the sections of the SOPs entitled “Authorization and disbursement of loans in the event of contamination or reclamation in the field” (see SOP 50 10 5 (H). Section III – Environmental Policy and Procedures, paragraph G, page 179). This is not limited to the submission of a recommendation to the SBA, which includes a discussion on issues such as the nature and extent of contamination, the status and recommended remediation method, collateral value and all mitigating factors. In most cases, if the results of the environmental investigation reveal that the property is contaminated and the loan is intended for the purchase of the service station, the seller must, in most cases, sign the form of the SBA`s environmental compensation agreement (in Annex 6 of SOP 50 10 5 (H).

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