Want to Become a More Effective Entrepreneur? WealthFit Can Help.

As exciting and fulfilling as your entrepreneurial journey is, it can also be very stressful. You’re busy, and the last thing you need is something else to do, right? But to be a successful entrepreneur, you also need to learn and grow.  When you think about spending your time learning, it may cause you some angst. You don’t have a minute to waste on anything that’s not a considerable return on your time investment. Never fear. At Nav, we’ve got Read More

What to Know About Bootstrapping Finance for Your Business

If you’re starting a new business, your financing options may be limited. Not having access to capital through lenders isn’t always a bad thing, though. Instead of taking out a loan or using a business credit card, you may consider bootstrapping your business. Utilizing bootstrapping finance instead of outside funds can be possible for some types of businesses, and it may even be preferable to taking on debt. Here’s what you need to know. What does bootstrapping mean in business? Read More

Revolving Line of Credit: How It Works

A revolving line of credit can be a valuable tool for any small business. Whether you need cash to improve working capital, purchase inventory, or for something else entirely, a revolving line of credit can help your company access the money it needs quickly.  Keep reading for highlights of how this flexible borrowing option might help your small business. We’ll also review some of the best revolving lines of credit for businesses and discuss why it’s a good idea to Read More

What is a Convertible Note?

Getting capital for your new business is one of your most important tasks as a business owner. Whether you choose to go with debt, equity or a mix can have an effect on your company for months or even years to come.  With a convertible note, you have the opportunity to take on short-term debt that converts to equity. This type of funding is common for startups in the early stages of development and can give you the seed money Read More

What is a Letter of Credit?

If you’re a successful small business, you’ll be getting paid by customers quite regularly. We know about most of the common ways to receive payment, such as credit cards, cash, and even wire transfers. One method that’s new to many business owners, however, is a letter of credit. While this payment mechanism isn’t used as often by small domestic companies – it’s wise to understand how it works. If you’re an exporter, making it part of your accounts receivable toolkit Read More

12 Small Business Podcasts That Will Help You Sell More

Running a business is often about setting goals and putting in the long hours and hard work to achieve them. Regardless of what type of business you run, it’s likely that “selling more” has a frequent, if not long-term, place on your to-do list. It’s a goal that requires staying up to date on new techniques, honing strategies, and being in touch with the latest industry news. The sad part? It’s difficult for small business owners, many of whom have Read More

Where to Look to Find Easy Business Loans

Getting a small business loan is easier now than it ever has been. Even if you own a brand-new startup and don’t have great credit, there are easy-approval business loans available to get you the capital you need. Before we dig into the details about easy business loans, note that many of these options typically charge high interest rates compared with traditional business financing. We’ll share a few loans that come with relatively good terms, as well as some that Read More

What is APR and Why Does it Matter to My Business?

What Is APR?  APR, or annual percentage rate, is the price a lender charges you to borrow money on a yearly basis. In addition to including the interest rate a lender charges, APR considers certain fees that the lender may charge as well. As a result, APR can give a truer measure of the overall cost of financing than simply looking at the interest rate alone.  What Is a Good APR for a Credit Card?  According to the Federal Reserve, Read More

7 Ways Entrepreneurs Are Leveraging Age to Grow Their Business

Entrepreneurship isn’t just for the young. Older adults are finding that starting a business can be the perfect way to turn a lifetime of experience into something meaningful, take control of their time, counter workplace ageism, and in some cases, make a lot more money. “In the U.S., the U.K., Ireland, and Australia, 50+-year-olds are launching more start-ups than any other cohort,” shares Kerry Hannon, the author of Never Too Old to Get Rich: The Entrepreneur’s Guide to Starting a Read More

What Are the Best Business Loan Terms for Your Small Business?

It can be confusing to navigate all the available loan products being offered by banks, lenders, and online financial companies these days. The best way to know which loan is best for your business situation, however, is to know about each of them in advance.  From long-term financing to a quick cash advance, the more you understand, the more likely you are to narrow down the long list to just those that work for you. Then, you can just apply Read More