PPP SBA loans: All you need to know During the COVID-19 pandemic in 2020, the U.S. Small Business Administration (SBA) started the Paycheck Protection Program (PPP) to help small businesses keep their employees on payroll during the crisis. Get a quote The PPP was established by Congress via the Coronaivirs Aid, Relief, and Economic Security […]
Apply for business funding today Need funding fast? Explore funding options up to $2m with rapid decisions. Get funding now Trustpilot Loans of up to $2m Interest rates from 8% Borrow for up to 2 years Funding delivered quickly What can I use the funds for? Use your instant business funding for any legitimate business […]
SBA loan approval timeline: How long do you have to wait? Loans from the U.S. Small Business Administration (SBA) are very popular for small businesses because of their competitively low interest rates and longer payback terms. Get a quote While most SBA loans will be approved within three months, the SBA loan approval timeline depends […]
SBA loan credit score – what is required? Loans administered by the U.S. Small Business Administration (SBA) are popular for small businesses because of their low interest rates and long payback terms. Get a quote In order to qualify for an SBA loan, the borrower must meet certain qualifications, including a minimum personal credit score. […]
Definition A bridge loan, also known as interim financing or a swing loan, is a short-term loan used to provide temporary financial assistance until a more permanent source of funding becomes available. What is a bridge loan? Usually, a bridge loan ranges from a few weeks to a few years, but is not intended for […]
SBA loan forgiveness for self-employed workers The U.S. Small Business Administration (SBA) administers loan programs for small businesses throughout the country, including self-employed workers such as sole proprietors and independent contractors. Get a quote The SBA may forgive certain business loans for self-employed individuals, including PPP loans, but there are many factors at play. Learn […]
How much is an SBA loan down payment? Join Swoop Key Takeaways SBA loans often require a down payment of 10–30%, depending on the loan type and borrower risk profile. SBA 7(a) loans typically require 10%, while 504/CDC loans require 10–20%, with some exceptions and external support possible. Alternatives for raising down payments include personal […]
How to get an SBA loan Join Swoop Key Takeaways Check your eligibility – Ensure your business meets SBA and lender requirements, such as credit score, revenue, and industry type. Choose the right loan programme – Select from SBA options like 7(a), 504, or microloans based on your funding needs. Apply through an SBA-approved lender […]
Guide to self-employed loans with no proof of income Self-employed workers and sole traders often require business financing. Get a quote To secure this type of borrowing, they will usually be asked for proof of income. But what do you do when you can’t show evidence of the money you make? Read on to learn […]
Guide to self-employed loans with bad credit There are more than 16 million self-employed workers in the US, and many of them will require extra funding to support their business at some point in time. Get a quote Unfortunately, due to erratic income, the self-employed often have bad credit, which makes it more difficult for […]
Definition An unsecured loan is a type of loan that is not backed by collateral, such as a car or property. Instead, it is based solely on the borrower’s creditworthiness and ability to repay. What is an unsecured loan? Here are some key points about unsecured loans: 1. No collateral requirement: – Unlike secured loans, […]
Definition A non-performing loan (NPL) is a business loan that has stopped generating income for a lender because the borrower has failed to make the required interest or principal payments as per the agreed-upon terms. What is a non-performing loan? In other words, it’s a loan where the borrower has fallen behind on their payments […]
What is the average SBA loan size? Join Swoop Key Takeaways Average SBA loan sizes vary by programme: SBA 7(a) loans averaged around $539,000 in 2022, with Express loans averaging $97,000, and 504/CDC loans around $973,000. Loan amounts depend on factors like cash flow, credit score, financial history, and collateral—most businesses don’t receive the maximum […]
Disclaimer: Swoop Funding LLC (“Swoop”) is a financial technology platform and commercial finance broker, not a lender. Swoop does not provide loans or make credit decisions. We match US-based firms with third-party lenders, equity funds, and grant agencies. All financing is subject to lender credit approval and the specific terms and conditions of the funding provider.
Broker Compensation Disclosure: Swoop provides its platform and matching services to applicants at no direct cost. We receive compensation in the form of a commission or referral fee from the finance providers in our network upon successful placement. This compensation may vary by provider and product. In certain instances, the commission paid to Swoop may influence the interest rate or terms offered by the lender, which can affect the total amount payable under your agreement.
Credit Authorization & FCRA Notice: By submitting an application or registering an account, you provide “written instructions” to Swoop under the Fair Credit Reporting Act (FCRA) to obtain your personal and/or business credit profile from consumer reporting agencies. This information is used solely to evaluate your eligibility for financing and to match you with appropriate lenders in our network.
State-Specific Disclosures:
Florida & Utah: Swoop complies with state commercial financing disclosure laws regarding the transparency of terms for non-real estate secured commercial transactions.
Entity Information: Swoop Funding LLC is a Delaware limited liability company. US Headquarters: 43 W 23rd St, New York, NY 10010, United States. Contact: hello@swoopfunding.com
General Terms: Applicants must be 18 years of age or older. All firms must be registered and operating within the United States. SBA loans are issued by private lenders and guaranteed by the U.S. Small Business Administration; Swoop is not a government agency. Please review our Terms of Use and Privacy Policy for full details.
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