Category: Business Financing

How to Set Financial Goals for Your Business This Year (With Examples)

How to Set Financial Goals for Your Business This Year (With Examples)

Just like with your personal finances, business finances need to be managed.  But as a business owner or entrepreneur, it can be hard to know where to start with setting business goals.  That’s where this guide comes in: We’ll cover all aspects of setting financial goals for your business and creating the right financial New Year’s resolutions to start your next year off on the right foot. Understand Your Current Financial Health Before you can set financial goals for business,… Read More
Business Credit, Cash Flow and Lenders: What You Should Know in 2024

Business Credit, Cash Flow and Lenders: What You Should Know in 2024

Key Takeaways  Cash flow and credit are the top two factors many lenders consider when evaluating applications for small business loans and financing.  Cash flow indicates the ability to pay while credit represents the willingness to pay.  Learn how to position your business for financing in 2024 and beyond. It’s Still Possible to Access Capital in 2024  Interest rates have been rising. And some borrowers are finding it more difficult to get financing. Yet business owners in a variety of… Read More
Business Lending Options for Business Owners Who Prefer to Avoid a Hard Credit Pull

Business Lending Options for Business Owners Who Prefer to Avoid a Hard Credit Pull

Small business owners in the startup phase or with bad credit may want to avoid a hard credit check when they apply for business financing.  Let’s explore why hard credit checks matter, no credit check business loans, how to start a small business with no money and no credit, and more in this article from Nav’s experts. What Is a Hard Credit Pull, and Why Does It Matter? A hard credit pull, also known as a hard inquiry or hard… Read More
Understanding Midprime Credit Scores: A Guide for Small Business Owners

Understanding Midprime Credit Scores: A Guide for Small Business Owners

For small business owners, personal credit score can still matter in determining which small business loans and business credit cards you qualify for. A midprime, or near-prime, credit score falls between prime (which is good) and subprime (which is poor).  This article explores how having midprime credit affects you, credit options for midprime borrowers, and how to build your credit over time. What Is Midprime Credit? Midprime credit, also called near-prime credit, refers to a credit rating from the three… Read More
How Much Business Debt is Healthy

How Much Business Debt is Healthy

Just like it’s difficult to imagine buying a home or even a car without a mortgage or car loan, small business owners often find that small business loans or financing is essential to grow their business.  But how much business debt is healthy? It’s an important question for the financial health of your business, so let’s dive into ways to use debt strategically.  What's a Healthy Level of Business Debt? Some business owners believe that debt is bad, and focus… Read More
How Much Does It Cost To Open a Laundromat

How Much Does It Cost To Open a Laundromat

If you open or purchase a laundromat, you’ll be in good company. There are about 30,000 coin laundries in the US, generating about $5 billion in annual revenue, according to the Coin Laundry Association, which represents the laundromat industry.  A laundromat in the right location can create a profitable business for years to come. But how much does it cost to open a laundromat? Here we’ll explore the costs and benefits of a coin laundry business.   Why Open a Laundromat… Read More