"Pop" Johnson in 1940, despite the fanciful story which has now entered into popular mythology surrounding the Swift's origin (that a Culver Cadet was obtained as a "template" aircraft).

Two prototypes were built but essentially, the design remained the same as the type which entered production.

Later that year, the Swift received a more powerful engine of 125 hp (93 kW), making it the GC-1B.

TEMCO, the largest creditor, paid $328,000 to obtain the type certificate, tooling, aircraft, and parts allowing them to continue production in late 1947 hoping to recoup their losses.

The type certificate for the Swift was obtained by Universal Aircraft Industries (later Univair) along with all production tooling.