How to Open a Free Business Checking Account With No Deposit

As a business owner, limiting expenses and maximizing your profits are a top priority. But one area where it can be tough to save money is with your business checking account. There are very few options available that don’t charge a fee, and many “no-fee” business checking accounts require that you keep a minimum balance to qualify.  Opening a business checking account is crucial for keeping your business and personal finances separate. But if you’re looking for a no-fee account Read More

Protecting Your Personal Assets As a Business Owner

Over a million lawsuits are filed in state courts every year. And, according to one source, all of us have a 10% chance of getting sued in any given year and a 33% chance of getting sued during our lifetimes! This is scary information given that being on the losing end of a lawsuit can be financially devastating.  As a business owner, you have special cause for concern. That’s because if your business is sued and ordered to pay a Read More

What Happens if My Business Insurance Expires?

There are times that small business owners accidentally allow their business insurance to expire. They’re bad people with no redeeming qualities. Just kidding – it’s not totally uncommon for a business to forget to make a payment or to miss their insurance renewal date. And while it does happen, that doesn’t mean it’s no big deal – there are consequences and risks to not having insurance coverage for your business. Operating without Workers’ Compensation Insurance If you allow your workers’ Read More

What Is Cross Collateralization?

At some point in the life of your business, you may need to borrow money. Whether you want to take advantage of a lucrative investment opportunity, expand, or start marketing a new product, it pays to prepare your business credit and educate yourself in advance when it comes to commercial lending. Often, the better prepared you are, the better your odds of getting a loan. Business owners who know and understand their business credit scores, for example, are 41% more Read More

Can I Open An Ally Business Checking Account?

Ally is a hugely popular online bank that offers checking and savings accounts as well as auto loans and mortgages. Regularly appearing on lists of the best online banks, Ally is known for its high-yield savings accounts where you can earn an APR that is 20 times the national average.  If you’re a fan of the bank and are a business owner or freelancer, you’re likely looking to open an Ally business checking account. However, the online bank doesn’t have Read More

Is Using a Company Credit Card for Personal Use Embezzlement?

As a small business owner, you’ve got a lot on your plate, and it might seem easier and more convenient to use the same credit card for your business and personal expenses than to completely separate the two.  There are many reasons to separate your business and personal finances, but could it be considered theft to swipe your business card for non-business purchases? It depends. Is using a company credit card for personal use embezzlement? The term embezzlement carries a Read More

Meet Center Stage Clothiers: 2nd Runner-Up In Nav’s Business Grant

Diana Kirkpatrick opened Center Stage Clothiers in 2018 to honor the life of a late local costumer designer. Based in Vancouver, Washington and with just one part-time employee to help run the show, Diana provides costume rentals to local schools for theatrical productions, to business and individuals for themed parties and fundraisers, and even offers private dress-up parties and other events.  Center Stage Clothiers took home third prize in the latest Nav Business Grant round, here’s their story.  Why did Read More

Meet Russo’s Ravioli: 1st Runner-Up in Nav’s Business Grant

Many small businesses are rooted in family traditions, and Russo’s Ravioli is no exception. Based in Cincinnati, Ohio, this mother-son operation has been churning out homemade ravioli for the masses since 2014. But, the recipe is anything but new. Armed with a decades old family recipe and a bevy of knowledge from other Russo restaurateurs, Diane and Garrison Russo are keeping the tradition alive.  They’ve experienced great growth since opening up shop five years ago, including getting their product into Read More

Meet Junk Star Handcrafted Furniture: Nav’s $10,000 Small Business Grant Winner

Another round of Nav’s Small Business Grant has closed. This round brought in more applications than ever before and presented the team with a bounty of deserving business owners, making it incredibly difficult to narrow it down to finalists, let alone select our Grand Prize winner.  After weeks of deliberation and follow-up interviews, the entire Nav team is pleased to announce that the winners of our most recent Grant round are Alex and Jenn Morton, Founders & Owners of Junk Read More

The Best Business Loans for Women Entrepreneurs

The impact that women have on the U.S. market is growing every year. Consider these statistics from the National Association of Women Business Owners: Over 11.6 million firms are owned by women Woman-owned businesses employ almost 9 million workers In 2017, these same businesses generated $1.7 trillion in revenue 39% of all privately-held firms in the U.S. are women-owned Despite the gains women are making in the economy, there’s room for improvement from female business owners. That’s why many loan Read More