Nav Releases Free Tool to Help Self-Employed Business Owners Estimate PPP Loan Forgiveness

News provided by

May 18, 2020, 11:37 ET

SALT LAKE CITY, May 18, 2020 /PRNewswire/ -- Today Nav, a free service that provides business owners the fastest, easiest and most trusted path to financing, launched a Self-Employed Paycheck Protection Program (PPP) Loan Forgiveness Calculator to help the self employed estimate how much PPP loan forgiveness they may qualify for.

N av's Self-Employed PPP Loan Forgiveness Calculator walks self-employed individuals, including most sole proprietors and independent contractors, through the calculations used to apply for PPP loan forgiveness.

The tool, which is free to use, was built by Nav's in-house experts, with decades of experience in business financing, who are intimately familiar with the legislation and guidance issued by the SBA.

To ensure that business owners are providing the best data possible, a robust list of frequently asked questions and additional information is also provided alongside the tool.

"There is still a lot of uncertainty regarding PPP loan forgiveness," explained Greg Ott, Nav CEO. "And, frankly, it is making a difficult situation for all business owners even more frustrating. Our team's commitment to helping business owners navigate the complexities of business financing, including PPP loans, is unwavering. This new tool provides another opportunity for us to help the self employed get the information they need to help their business survive and thrive."

For business owners who are still in need of PPP funds, Nav offers a free digital tool to instantly connect business owners with lenders that are taking SBA Paycheck Protection Program (PPP) applications for PPP funds available to small business owners under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).

"While many business owners are starting to think about forgiveness, there are still millions of business owners who haven't received the funds they so desperately need," shared Ott. "If you have not applied for or received any funding yet, I encourage you to let Nav's team of experts help you. Business owners who already have PPP funds, should leverage our services to ensure that their businesses are in the best possible standing for post-COVID financing."

Over the last six weeks, Nav has helped thousands of small business owners connect with PPP lenders and agents and secure tens of millions of dollars in government-funded loans.

About Nav
Nav provides business owners the fastest, easiest and most trusted path to financing. The leading Business Financial Management app, Nav hosts a robust marketplace of business financing products, and gives business owners free access to personal and business credit reports from major consumer and commercial credit bureaus including Dun & Bradstreet, Experian, Equifax and TransUnion. The marketplace uses a unique, lender-neutral approach to help business owners find the best financing options for their needs. Nav's solution is also leveraged by other business service providers to enhance their customer experience. The company has offices near Silicon Valley, Philadelphia and Salt Lake City. To learn more, visit Nav.com.

*Note: Although Nav's Self-Employed PPP Loan Forgiveness Calculator seeks to provide borrowers with an accurate estimate of loan amounts that may be forgiven, such estimates should not be relied upon or construed as a legal opinion or legal advice. Nav encourages borrowers to consult with their lawyers, CPAs and Financial Advisors regarding PPP loan forgiveness.

CONTACT:
Amanda Triest
Nav PR Manager
[email protected]
801-890-5024

SOURCE Nav