{"id":23382,"date":"2023-10-04T15:57:26","date_gmt":"2023-10-04T15:57:26","guid":{"rendered":"https:\/\/swoopfunding.com\/us\/?post_type=sba-loans&#038;p=23382"},"modified":"2024-08-12T14:24:30","modified_gmt":"2024-08-12T14:24:30","slug":"sba-loan-forgiveness-for-self-employed-workers","status":"publish","type":"sba-loans","link":"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loan-forgiveness-for-self-employed-workers\/","title":{"rendered":"SBA loan forgiveness for self-employed workers"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"23382\" class=\"elementor elementor-23382\" data-elementor-post-type=\"sba-loans\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4c1a6265 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4c1a6265\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3ad5d7e1\" data-id=\"3ad5d7e1\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5d40a1b2 elementor-widget elementor-widget-heading\" data-id=\"5d40a1b2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">SBA loan forgiveness for self-employed workers<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-43dd3101 elementor-widget elementor-widget-text-editor\" data-id=\"43dd3101\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">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.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2867eac2 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"2867eac2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-md\" href=\"https:\/\/us.swoopfunding.ca\/stage\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Get a quote<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5de8d44c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5de8d44c\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3ae864e\" data-id=\"3ae864e\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-54c89e2 elementor-widget elementor-widget-ucaddon_breadcrumbs\" data-id=\"54c89e2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_breadcrumbs.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\n\t\t\t <div id=\"breadcrumbs-container\" class=\"left\">\n <nav aria-label=\"breadcrumbs\" class=\"rank-math-breadcrumb\"><p><\/p><\/nav> <\/div>\n\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-65a9930 elementor-widget elementor-widget-text-editor\" data-id=\"65a9930\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">The SBA may forgive certain business loans for self-employed individuals, including PPP loans, but there are many factors at play.<\/span><\/p><p><span style=\"font-weight: 400;\">Learn how to apply for SBA PPP loan forgiveness as a self-employed worker and how to qualify. <\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-675e56df elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"675e56df\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-115ab3c2\" data-id=\"115ab3c2\" data-element_type=\"column\" data-e-type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t<div class=\"elementor-element elementor-element-98f7344 e-flex e-con-boxed e-con e-parent\" data-id=\"98f7344\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d36bdfb elementor-widget elementor-widget-ucaddon_aivoov_player\" data-id=\"d36bdfb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_aivoov_player.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\n\t\t\t<div class=\"aivoov-player-block\">\n\t<div class=\"read_this\">Read this article to me<\/div>\n\t\t\t<style>\n\t\t\t.plyr__controls .plyr__controls__item:first-child{\n\t\t\t\tbackground:#2e9c8e !important;\n\t\t\t}\n\t\t\t:root{\n\t\t\t--plyr-color-main:#2e9c8e;\n\t\t\t--plyr-audio-controls-background:#f0f2f4;\n\t\t\t--plyr-audio-control-color:#546a7b;\n\t\t\t}\n\t\t\t[data-plyr=\"mute\"]{color:#2e9c8e !important}\n\t\t\t.aivoov-text-color{color:#546a7b}\n\t\t<\/style> \n\t\t<div class=\"audio_player\">\n\t\t<audio class=\"js-player\" controls=\"\">\n\t\t\t<source src=\"https:\/\/monky-voice-over.s3.amazonaws.com\/aivoov\/781640cc-7bc1-4bbf-9492-22dedc19678b\/ad2e8c8b-390a-43f3-bbcd-1fafebcfc939.mp3\" type=\"audio\/mp3\">\n\t\t\t<source src=\"https:\/\/monky-voice-over.s3.amazonaws.com\/aivoov\/781640cc-7bc1-4bbf-9492-22dedc19678b\/ad2e8c8b-390a-43f3-bbcd-1fafebcfc939.mp3\" type=\"audio\/ogg\" \/>\n\t\t<\/audio> \n\t\t\t\t <div class=\"powerd_by aivoov-text-color\"><p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/aivoov.com\/?um_source=plugin_powered_by\" style=\"color: inherit;\">Powered by AiVOOV<\/a><\/p><\/div>\n\t\t \n\t\t<\/div>\n\t\t<\/div>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-88b01d6 elementor-widget elementor-widget-heading\" data-id=\"88b01d6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What was the PPP SBA loan forgiveness for self-employed workers?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8a27f0f elementor-widget elementor-widget-text-editor\" data-id=\"8a27f0f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">During the COVID-19 pandemic, the U.S. government created the Paycheck Protection Program (PPP) as part of the CARES Act and distributed loans administered by the SBA. As the name implies, the loans were meant to help small businesses keep paying their employees during lockdowns. The loans were guaranteed by the federal government and small businesses could use them to cover costs associated with running a business, including:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Payroll and other employee compensation<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Health insurance and other benefits\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rent for the business<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Utilities for the business<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Interest on debt including mortgages or previous debt<\/span><\/li><\/ul><p><span style=\"font-weight: 400;\">Self-employed workers, including sole proprietors, freelancers and contractors, could also apply for these loans. The loan amount was determined based on tax returns from previous years. For self-employed individuals, this would often mean the amount of their own salary for the year.<\/span><\/p><p><span style=\"font-weight: 400;\">Small businesses and self-employed individuals who took out <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/ppp-sba-loans\/\">SBA PPP loans<\/a> were given forgiveness terms, meaning that if they met certain criteria on how they spent the loan in a certain time frame, the SBA would pay the lender back and the small business would not have to pay back the loan. <\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t<div class=\"elementor-element elementor-element-a9101f0 e-flex e-con-boxed e-con e-parent\" data-id=\"a9101f0\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c6c4213 elementor-widget elementor-widget-heading\" data-id=\"c6c4213\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What were the forgiveness terms?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fcc2033 elementor-widget elementor-widget-text-editor\" data-id=\"fcc2033\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">For the loans to be forgiven, borrowers had to:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Maintain employee and payroll levels\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Spend the loan money on payroll costs or other eligible expenses<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Spend at least 60% of the loan on payroll costs<\/span><\/li><\/ul><p><span style=\"font-weight: 400;\">The small business had to do this during the eight to 24-week period covered by the loan after its distribution. The small business or self-employed individual seeking forgiveness would have to provide proof of these activities through tax forms and other financial documentation.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-3f1ea0f e-flex e-con-boxed e-con e-parent\" data-id=\"3f1ea0f\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-723677c elementor-widget elementor-widget-heading\" data-id=\"723677c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What was the application process for PPP loan forgiveness?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b6f117f elementor-widget elementor-widget-text-editor\" data-id=\"b6f117f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">To apply for loan forgiveness for a PPP loan, the borrower needed to wait until they had used all of the funds that were given to them. They could apply for forgiveness up until the loan reached maturity. Repayment would begin 10 months after the last day of the covered period if the borrower had not applied for forgiveness by then.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">The borrower also needed to follow these steps to get their PPP loans forgiven:<\/span><\/p><h3><strong>Determine if the lender is directly forgiving loans or if the SBA is in charge of forgiveness.<\/strong><\/h3><p><span style=\"font-weight: 400;\">As with most SBA loans, banks and credit unions managed the loans while the SBA administered them. Certain financial institutions participated in direct forgiveness, meaning that the borrower got forgiveness automatically through the SBA by applying through a portal and answering questions similar to those asked on SBA form 3508S.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Other loans required that the borrower apply for forgiveness through the lender, which would provide the borrower with one of the following SBA forms or their own equivalent:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">SBA Form 3508<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">SBA Form 3508EZ<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">SBA Form 3508S<\/span><\/li><\/ul><h3><strong>Gather documentation.<\/strong><\/h3><p><span style=\"font-weight: 400;\">After determining if the lender is participating in direct forgiveness or not, the self-employed borrower will need to gather their documentation to prove they had met the terms of forgiveness. These documents include:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Payroll documentation<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Non-payroll expenses\u00a0<\/span><\/li><\/ul><h3><strong>Submit the forgiveness form and documentation.<\/strong><\/h3><p><span style=\"font-weight: 400;\">Once the borrower has gathered the right documentation and <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/how-to-fill-out-an-sba-loan-forgiveness-application\/\">filled out the form<\/a>, they could either apply for forgiveness through the SBA portal (for direct forgiveness) or by submitting it directly to their lender.\u00a0<\/span><\/p><h3><strong>Monitor the application.\u00a0<\/strong><\/h3><p><span style=\"font-weight: 400;\">Some loans might require a review to ensure they qualify for forgiveness. In this case, the SBA or the lender notifies the borrower, who can appeal decisions. From there the lender is responsible for telling the borrower how much of the loan was forgiven, how much they still owe and when payments will be due, if applicable.\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-eacc9c9 elementor-widget elementor-widget-heading\" data-id=\"eacc9c9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What documentation was required?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fee005c elementor-widget elementor-widget-text-editor\" data-id=\"fee005c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Borrowers are required to submit documentation to prove they met the terms for forgiveness. Some of these documents include:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Payroll reports<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Bank account statements showing how much payroll was paid<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Tax forms, including payroll tax filings (Form 941) and state wage reporting and unemployment insurance tax filings<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Payment receipts, cancelled checks or account statements showing contributions to health insurance or retirement plans for employees<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Business mortgage interest payments, such as lender amortization schedule and receipt of payments<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Business rent or lease payments, including current lease agreement and receipts<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Business utility payments\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Copies of invoices, orders, <a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/purchase-order-financing\/\">purchase orders<\/a> and receipts for covered operating expenses<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Property damage payments\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Receipts or invoices for supplier costs<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Worker protection expenditures<\/span><\/li><\/ul><p><span style=\"font-weight: 400;\">Each of these documents must show that you would have made this money or claimed a deduction in 2019, meaning before the pandemic. For the payroll expenses, a self-employed individual would need to provide their 2019 From 1040 Schedule C and 2019 IRS Form 1099-MISC.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-dd8e80b elementor-widget elementor-widget-heading\" data-id=\"dd8e80b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What happened if you didn't qualify?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-548c3ee elementor-widget elementor-widget-text-editor\" data-id=\"548c3ee\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">If you didn\u2019t qualify for loan forgiveness or for complete loan forgiveness, there were a few options available.\u00a0<\/span><\/p><p><b>Repay the full outstanding balance<\/b><span style=\"font-weight: 400;\">. There is no prepayment penalty for PP loans or other fees, so if you have the money available, this is a good option.\u00a0<\/span><\/p><p><b>Repay the loan at 1% interest for two to five years<\/b><span style=\"font-weight: 400;\">. Loans that came out before June 5, 2020 (the passage of the PPP Flexibility Act) were given two years to repay the loan at this rate. Other loans allowed for five year repayment plans.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7e6c879 elementor-widget elementor-widget-heading\" data-id=\"7e6c879\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What was the maximum forgiveness?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f9bb706 elementor-widget elementor-widget-text-editor\" data-id=\"f9bb706\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Because the PPP loan forgiveness terms capped payment for any worker at $100,000, this is the maximum amount a self-employed worker could have forgiven. <\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3651f8b elementor-widget elementor-widget-heading\" data-id=\"3651f8b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What are the alternatives now?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f5981df elementor-widget elementor-widget-text-editor\" data-id=\"f5981df\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">The PPP ended May 31, 2021 and borrowers can still claim forgiveness. An alternative to the PPP loan is the <a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/employee-retention-credits\/\">employee retention credit (ERC)<\/a>, which is a tax relief credit under the CARES Act. Under the ERC, a qualifying business can claim up to $26,000 per <a href=\"https:\/\/swoopfunding.com\/us\/support-for-small-businesses\/what-is-a-w-2-employee\/\">W2 employee<\/a>. However, as a self-employed individual who doesn\u2019t issue W2s, this option is not available to most contractors or freelancers.<\/span><\/p><p><span style=\"font-weight: 400;\">There are still options for funding available to sole proprietors and other self-employed individuals, although they generally won\u2019t offer full loan forgiveness or 1% interest. Some options to explore include:<\/span><\/p><h3><strong><a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loans-for-self-employed\/\">SBA loans for self-employed borrowers<\/a><\/strong><\/h3><p><span style=\"font-weight: 400;\">The SBA offers a variety of loan programs for small businesses, including self-employed individuals who are sole proprietors of an <a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/llc-loans\/\">LLC<\/a>. Because these loans are very popular with excellent rates and competitive terms, they can be more difficult to qualify for.\u00a0<\/span><\/p><h3><strong>Online loans<\/strong><\/h3><p><span style=\"font-weight: 400;\">Traditional bank loans can be more difficult for self-employed borrowers. Online lenders may be a way for self-employed individuals to get money for their businesses. However, because these loans lend to more high-risk borrowers, they tend to have higher interest rates and shorter repayment periods.<\/span><\/p><h3><strong>Personal loans<\/strong><\/h3><p><span style=\"font-weight: 400;\">If you have good credit and are willing to put it on the line for your business, you can use a personal loan to cover business expenses. However some lenders may not want to lend you money personally if you\u2019re going to use it for your business, so you need to be upfront about your intentions.\u00a0<\/span><\/p><h3><strong>Business credit cards<\/strong><\/h3><p><span style=\"font-weight: 400;\">Business credit cards are an easy way to cover business expenses and you may be able to build your credit while you do so. They\u2019re easier to get than most loans, but they tend to have very high interest rates. They also can\u2019t usually be used for things like business mortgages or certain other expenses. Make sure you can make any minimum monthly payments on time before you get a business credit card.\u00a0<\/span><\/p><h3><strong>Business line of credit<\/strong><\/h3><p><span style=\"font-weight: 400;\">A business line of credit is similar to a credit card in that you usually get a revolving line of credit that opens back up as you pay it off. Many small businesses get a business line of credit in case of emergency. You can often use the credit to withdraw cash to pay for certain expenses. Again, they tend to have higher interest rates and it\u2019s important to make sure you can pay monthly minimums.\u00a0<\/span><\/p><h3><strong>Crowdfunding<\/strong><\/h3><p><span style=\"font-weight: 400;\">Many startups and sole proprietors use <a href=\"https:\/\/swoopfunding.com\/us\/equity-financing\/equity-crowdfunding\/\">crowdfunding<\/a> to pay for business expenses early on. There are many different types of crowdfunding, ranging from personal donations from friends and family to capital injections from angel investors.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">It\u2019s important to understand the terms for any type of funding you apply for to make sure you can afford to make repayments. Also be aware that you may be putting your personal credit at stake. <\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6823130 elementor-widget elementor-widget-heading\" data-id=\"6823130\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How do I find funding?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-eba6ac3 elementor-widget elementor-widget-text-editor\" data-id=\"eba6ac3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">There are many ways to find funding for your small business. One way is to use a service like Swoop which can match your needs and qualifications to the right funding for you. If you have an existing relationship with a bank or credit union, you may explore what options they have for business financing. An accountant or legal advisor may be able to help you find funding as well, although they may only do so for a fee. <\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fc20dca elementor-widget elementor-widget-heading\" data-id=\"fc20dca\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Get started with Swoop's business funding platform<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-670c2c2 elementor-widget elementor-widget-text-editor\" data-id=\"670c2c2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Use Swoop to find out more info on which SBA loan program is best for your business. Just download the Swoop app, answer a few questions and get matched to the programs or funding you\u2019re most likely to qualify for. <\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-be97ac1 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"be97ac1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/us.swoopfunding.ca\/stage\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Get started<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-bddaa04 e-flex e-con-boxed e-con e-parent\" data-id=\"bddaa04\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-89a99f3 elementor-widget elementor-widget-ucaddon_author_page\" data-id=\"89a99f3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_author_page.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\n\t\t\t\n\n\n <div class=\"info-user-post\">\n \n <div class=\"left-info\">\n <a href=\"https:\/\/swoopfunding.com\/us\/author\/kat-cox\/\" aria-label=\"Kat Cox\">\n <picture loading=\"lazy\" decoding=\"async\" class=\"attachment-large size-large\">\n <img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2023\/03\/kat-cox-min.jpg\" data-lazy-src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2023\/03\/kat-cox-min.jpg?is-pending-load=1\" alt=\"\" class=\"jetpack-lazy-image\" loading=\"lazy\" width=\"92\" height=\"92\">\n <\/picture>\n <\/a>\n <\/div>\n \n <div class=\"right-info\">\n <div class=\"inner-top\">\n <div class=\"info-top\">\n <div class=\"info-title\">\n <p>Written by<\/p>\n <p class=\"name-author\"><a href=\"https:\/\/swoopfunding.com\/us\/author\/kat-cox\/\">Kat Cox<\/a><\/h3>\n <\/div>\n <\/div>\n \n \n <\/div>\n <div class=\"info-bottom\">\n <p>As a B2B finance content specialist, Kat Cox's goal is to distill complicated financial issues into useful information for small business owners, to save them time they could be using to build their companies. Her work has been featured in Forbes and on financial health platform Nav.com. When she's not writing blogs, web copy, or fiction, Kat can be found walking her dog or singing karaoke in Austin, Texas.<\/p>\n <\/div>\n\n <ul class=\"social-links\">\n <li><a href=\"https:\/\/www.linkedin.com\/in\/katherinecox\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Linkedin\">\n <img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/us\/wp-content\/themes\/swoopMW50\/assets\/icons\/icon-linkedin-min.svg\" width=\"30\" height=\"30\" alt=\"Linkedin\">\n <\/a><\/li>\n \n \n <li><a href=\"https:\/\/katcox.com\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" aria-label=\"Website\">\n <img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/us\/wp-content\/themes\/swoopMW50\/assets\/icons\/icon-site-min.svg\" width=\"30\" height=\"30\" alt=\"Website\">\n <\/a><\/li>\n <\/ul>\n\n <div class=\"swoop-promise\">\n <p><strong>Swoop promise<\/strong><\/p>\n <p>At Swoop we want to make it easy for SMEs to understand the sometimes overwhelming world of business finance and insurance. Our goal is simple \u2013 to distill complex topics, unravel jargon, offer transparent and impartial information, and empower businesses to make smart financial decisions with confidence.<\/p>\n <p>Find out more about Swoop\u2019s editorial principles by reading our <a href=\"https:\/\/swoopfunding.com\/us\/about-swoop\/editorial-policy\/\">editorial policy<\/a>.<\/p>\n <\/div>\n\n <\/div>\n <\/div>\n\n \n\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-408c0dc e-flex e-con-boxed e-con e-parent\" data-id=\"408c0dc\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-663d56b elementor-widget elementor-widget-ucaddon_auto_page_related\" data-id=\"663d56b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_auto_page_related.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\n\t\t\t\n\n\n\n <div class=\"container-auto-page-related\">\n <p class=\"title-related text-center\">Related pages<\/p>\n <div class=\"auto-page-related\">\n <ul>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/can-you-have-multiple-sba-loans\/\">Can you have multiple SBA loans <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/how-much-is-an-sba-loan-down-payment\/\">How much is an SBA loan down payment? <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/how-to-fill-out-sba-form-1919\/\">How to fill out SBA Form 1919 <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/how-to-fill-out-sba-form-413\/\">How to fill out SBA Form 413 <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/how-to-fill-out-an-sba-loan-forgiveness-application\/\">How to fill out an SBA loan forgiveness application <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/how-to-get-an-sba-loan\/\">How to get an SBA loan <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/ppp-sba-loans\/\">PPP SBA loans <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-504-loans\/\">SBA 504 loans <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-7a-loans\/\">SBA 7(a) loans <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-7a-vs-504-loans\/\">SBA 7(a) vs 504 loans <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-8a-program\/\">SBA 8(a) program <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/\">SBA Loans <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-patriot-express-loans\/\">SBA Patriot Express loans <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-business-acquisition-loans\/\">SBA business acquisition loans <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-community-advantage-loans\/\">SBA community advantage loans <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loan-equity-injection\/\">SBA equity injection <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-franchise-loans\/\">SBA franchise loans <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-hazard-insurance\/\">SBA hazard insurance <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-line-of-credit\/\">SBA line of credit <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loan-application-process\/\">SBA loan application process <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loan-approval-rate\/\">SBA loan approval rate <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loan-approval-timeline\/\">SBA loan approval timeline <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loan-credit-score\/\">SBA loan credit score \u2013 what is required? <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loan-forgiveness-for-self-employed-workers\/\">SBA loan forgiveness for self-employed workers <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loan-guarantees-explained\/\">SBA loan guarantees explained <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loan-lenders\/\">SBA loan lenders <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loan-rates\/\">SBA loan rates <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loans-for-veterans\/veterans-rates\/\">SBA loan rates for veterans <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loan-requirements\/\">SBA loan requirements <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loans-for-llcs\/\">SBA loans for LLCs <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loans-for-minorities\/\">SBA loans for minorities <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loans-for-rental-properties\/\">SBA loans for rental properties <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loans-for-self-employed\/\">SBA loans for self-employed <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loans-for-veterans\/\">SBA loans for veterans <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loans-for-women\/\">SBA loans for women <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-loans-vs-conventional-loans\/\">SBA loans vs conventional loans <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-microloans\/\">SBA microloans <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-real-estate-loans\/\">SBA real estate loans <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-startup-loans\/\">SBA startup loans <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-working-capital-loans\/\">SBA working capital loans <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-working-capital-loans\/pilot-program\/\">SBA working capital pilot program <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/what-happens-if-you-cant-pay-your-sba-loan\/\">What happens if you can&#8217;t pay your SBA loan? <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/what-is-the-average-sba-loan-size\/\">What is the average SBA loan size? <\/a>\n <\/li>\n <li class=\"hidden_li offscreen\">\n <a href=\"https:\/\/swoopfunding.com\/us\/sba-loans\/sba-disaster-loan-denied\/\">Why has my SBA disaster loan been denied? <\/a>\n <\/li>\n <\/ul>\n <div class=\"container_bt\">\n <button class=\"bt_see_more\" href=\"javascript:void(0);\" aria-label=\"See more\">See more<\/button>\n <\/div>\n <div id=\"grey-out\"><\/div>\n <\/div>\n <\/div>\n\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-446eac32 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"446eac32\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-747832c4\" data-id=\"747832c4\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6a50aafd elementor-widget elementor-widget-spacer\" data-id=\"6a50aafd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-266c5098 elementor-widget elementor-widget-heading\" data-id=\"266c5098\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Testimonials<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-88754e6 elementor-widget elementor-widget-ucaddon_testimonials\" data-id=\"88754e6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_testimonials.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\t\t\t<style type=\"text\/css\">\/* widget:Testimonials *\/\n\n.testimony{\n margin:0;\n}\n.testimony .owl-theme .owl-dots .owl-dot.active span{\n background:;\n}\n\n.testimony .owl-theme .owl-dots .owl-dot:hover span{\n background:;\n}\n\n.testimony{\n\t content-visibility:auto;\n\t contain-intrinsic-size:445px;\n}\n .testimony .inner-testimony .read-mores{\n\t margin-left:15px;\n}\n .testimony .inner-testimony .icon{\n\t color:#eee;\n}\n .testimony .inner-testimony .icon-quotation-left{\n\t position:relative;\n\t top:-28px;\n\t left:0;\n}\n .testimony .inner-testimony .icon-quotation-right{\n\t position:relative;\n\t bottom:-28px;\n\t right:-8px;\n}\n .testimony .inner-testimony p{\n\t margin:0;\n\t color:#003e52;\n}\n .testimony .inner-testimony .testimony_description{\n\t padding:40px 0;\n}\n .testimony .inner-testimony .desc_testimony{\n\t font-size:24px;\n}\n .testimony .inner-testimony .author_testimony{\n\t font-size:18px;\n\t margin-top:20px;\n}\n .testimony .inner-testimony .role_testimony{\n\t font-size:18px;\n}\n .testimony .owl-theme .owl-nav .owl-prev{\n\t position:absolute;\n\t left:0;\n\t margin:-18px 0;\n\t top:50%;\n}\n .testimony .owl-theme .owl-nav .owl-next{\n\t position:absolute;\n\t right:0;\n\t margin:-18px 0;\n\t top:50%;\n}\n @media (max-width:992px){\n\t .testimony .inner-testimony{\n\t\t padding:40px 40px;\n\t}\n\t .testimony .inner-testimony .testimony_description{\n\t\t padding:0;\n\t}\n}\n @media (max-width:768px){\n\t .testimony{\n\t\t margin:50px 0 40px 0;\n\t}\n\t .testimony .inner-testimony .desc_testimony{\n\t\t font-size:19px;\n\t}\n\t .testimony .owl-dots{\n\t\t margin-top:30px !important;\n\t}\n\t .testimony .inner-testimony{\n\t\t padding:40px 0;\n\t}\n}\n\n<\/style>\n\n\t\t\t<div class=\"container\">\n <div class=\"testimony\">\n <div class=\"row justify-content-center\">\n <div class=\"col-xl-8 col-lg-10\">\n <div class=\"inner-testimony text-center\">\n <div id=\"owl-testimony\" class=\"owl-carousel owl-theme\">\n <div class=\"item\">\n <div class=\"testimony_description\">\n <p class=\"desc_testimony italic\"><i class=\"icon icon-quotation-left\"><\/i>Daire made it happen! There is no doubt that Swoop sped up the process and found lenders that worked to our time scale rather than the other way round<i class=\"icon icon-quotation-right\"><\/i><\/p>\n <p class=\"author_testimony\">Hocque Figureoa<\/p>\n <p class=\"role_testimony\">Joint owner, F45 Virginia<\/p>\n <\/div>\n<\/div>\n<div class=\"item\">\n <div class=\"testimony_description\">\n <p class=\"desc_testimony italic\"><i class=\"icon icon-quotation-left\"><\/i>Swoop was actually very helpful in helping us get our initial fundraising in place. Swoop was able to connect us with investors, with grant financing options and debt financing options.<i class=\"icon icon-quotation-right\"><\/i><\/p>\n <p class=\"author_testimony\">Viler Lika<\/p>\n <p class=\"role_testimony\">Founder, SingleKey<\/p>\n <\/div>\n<\/div>\n<div class=\"item\">\n <div class=\"testimony_description\">\n <p class=\"desc_testimony italic\"><i class=\"icon icon-quotation-left\"><\/i>Pedja was amazing. Super supportive, understanding of our needs and wasn't pushy at all. We've been going back and forth with Swoop for over a year inquiring about different financing options and they were patient until we were ready!<i class=\"icon icon-quotation-right\"><\/i><\/p>\n <p class=\"author_testimony\">Chris Skeates<\/p>\n <p class=\"role_testimony\">F45 Multi-studio owner<\/p>\n <\/div>\n<\/div>\n\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t<div class=\"elementor-element elementor-element-7540436 e-con-full cta-mobile-fixed elementor-hidden-desktop elementor-hidden-laptop elementor-hidden-tablet e-flex e-con e-parent\" data-id=\"7540436\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;position&quot;:&quot;fixed&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-debd3d7 elementor-align-justify elementor-widget elementor-widget-button\" data-id=\"debd3d7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/us.swoopfunding.ca\/stage\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">GET STARTED<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"author":75,"featured_media":0,"parent":0,"template":"elementor_header_footer","sba-loans-sectors":[343],"class_list":["post-23382","sba-loans","type-sba-loans","status-publish","hentry","sba-loans-sectors-sba-guidance"],"acf":[],"featured_image_urls_v2":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","image_blog":"","image_blog_full":"","image_podcast":"","image_banking":"","image_blog_internal":"","image_blog_medium":"","image_single_banking":""},"post_excerpt_stackable_v2":"<p>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 to apply for SBA PPP loan forgiveness as a self-employed worker and how to qualify. What was the PPP SBA loan forgiveness for self-employed workers? During the COVID-19 pandemic, the U.S. government created the Paycheck Protection Program (PPP) as part of the CARES Act and&hellip;<\/p>\n","category_list_v2":"","author_info_v2":{"name":"Kat Cox","url":"https:\/\/swoopfunding.com\/us\/author\/kat-cox\/"},"comments_num_v2":"0 comments","_links":{"self":[{"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/sba-loans\/23382","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/sba-loans"}],"about":[{"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/types\/sba-loans"}],"author":[{"embeddable":true,"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/users\/75"}],"version-history":[{"count":37,"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/sba-loans\/23382\/revisions"}],"predecessor-version":[{"id":37279,"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/sba-loans\/23382\/revisions\/37279"}],"wp:attachment":[{"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/media?parent=23382"}],"wp:term":[{"taxonomy":"sba-loans-sectors","embeddable":true,"href":"https:\/\/swoopfunding.com\/us\/wp-json\/wp\/v2\/sba-loans-sectors?post=23382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}