How to Build Commercial Credit for Your Business

It takes a lot of hard work to build a successful business. Branding, product or service development, marketing, and good customer service can all be key components to your company’s success. But these aren’t the only things that matter when you’re trying to grow a healthy business. Good commercial credit can also be a powerful tool you can use to help launch your company and expand. What Is Commercial Credit? Commercial credit is also known as “business credit” or “corporate Read More

How to Build Corporate Credit

It’s not unusual to feel confused about how corporate credit works. If you’re unsure how to build corporate credit for your company, you certainly aren’t alone. In fact, nearly half of small business owners aren’t aware that they have a business credit score in the first place. Even if you understand how to earn a good credit rating with the three personal credit reporting agencies – Equifax, TransUnion, and Experian – business credit reporting is a different animal. It’s perfectly Read More

Who Are the Business Credit Bureaus?

As a small business owner, keeping an eye on the health of your company’s credit is a task which deserves a place near the top of your to-do list. But have you ever wondered where your business credit reports come from? Who’s responsible for creating these reports which hold so much control over your business’ ability to thrive and grow? The answer is the business credit bureaus. Who Are the Business Credit Bureaus? The three major business credit bureaus (also Read More

Business Credit Builder Tips Every Business Owner Should Know

Building good business credit is a smart investment of your time, energy, and resources as a business owner. Good business credit can make it easier to secure financing for your company when you need it, and often to get that financing at a better price. Yet the benefits of establishing a strong business credit profile matter even if you’re not applying for a loan, credit card, or line of credit. Good business credit can save you money on insurance premiums Read More

A Guide To Funding Your Startup While In College

If you’re finishing up your degree or recently jumped  into the professional world with a great idea for a business, you’re not alone. Entrepreneurship is more popular than ever before, with new businesses springing up in every sector. Starting a business isn’t as hard as it once was. Today, funding is readily available to those who need it. But just because you can get financing doesn’t mean it’s right for you. You have to know where to look. Nav provides Read More

Best Business Loans for 2019

Getting the right type of funding for your business isn’t always easy. While there are plenty of commercial lenders and business loans on the market, the best one for you can depend on a variety of factors. How long you’ve been in business, your annual revenue, your personal credit score, and your required funding time are all things to consider before you apply. It’s also important to consider lenders who can provide the type of loan you need. To save Read More

Small Business Line of Credit: How to Choose the Right Option

A small business line of credit helps entrepreneurs maintain  a constant supply of cash to keep up with recurring expenses and the ebb and flow of seasonal changes in business. For the 50% of businesses owner who have experienced cash flow problems, a small business line of credit can be a necessary lifeline. You may be thinking: “My business is profitable, we don’t need additional cash reserves.” But many businesses with and without cash flow issues keep a line of Read More

How to Qualify for Government Contracts

Ever wonder how your business can get government contracts? After all, the U.S. government is the largest buyer in the world, with purchases amounting to about $500 billion dollars per year. Government agencies are such a big customer of small businesses that some small businesses make their cash solely off of business from government contracts. And maybe your business can capitalize on this big small business customer, too. Here’s your guide to understanding contracting opportunities with the U.S. government and how Read More

How to Apply for a Free Employer Identification Number (EIN)

If you’re a small business owner, or are otherwise self-employed, chances are you’ve heard of an EIN or Employer Identification Number. You may not be clear, however, on exactly what an EIN is, whether you need one or how to go about getting a free EIN if you do. That’s what we’re here for. Let’s walk through the basics, starting with what an EIN is. What is an Employer Identification Number (EIN)? An EIN is a lot like a Social Read More

What is the Debt-Service Coverage Ratio?

If you’ve applied for a small business loan before, you’re reasonably familiar with how a lender decides whether or not they want to work with you. Many will want to look at your credit scores (personal and business), business tax returns, monthly bank statements, and more. They’ll want to know how much money you business is bringing in, how much money is going out, and where it’s going. Most lenders will also want to know what existing debt you and Read More