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Business Credit Builder Tips Every Business Owner Should Know

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

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

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

Jump to SectionShareFacebookLinkedInTwitterShare LinkWhat It IsHow It WorksPros and ConsBenefitsHow to QualifyEasiest Lines of CreditWhen to Get OneBest Lines of CreditAverage FeesAverage RatesManaging Credit Lines Advertiser and Editorial Disclosure Businesses with and without cash flow issues often keep a line of credit handy for unexpected cash flow challenges or expansion opportunities. A business line of credit is a flexible and often low-cost way to get short-term financing to cover working capital needs. If an emergency comes up (say a client… Read More
How to Qualify for Government Contracts

How to Qualify for Government Contracts

The U.S. government is the largest buyer in the world, with purchases amounting to about $500 billion dollars per year. So it can be lucrative to try to get government contracts to build your business. Government agencies are such a big customer of small businesses that some small businesses make their cash solely off of business from government contracts. Your business may be able to capitalize on this big small business customer, too. Here's your guide to understanding contracting opportunities with… Read More
What Is the Debt-Service Coverage Ratio?

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
SBA Loans — What’s the Difference between 7a and 504?

SBA Loans — What’s the Difference between 7a and 504?

Small business owners have a lot of options to consider when it comes to small business loans. From selecting a lender to determining the type of loan you need, the path to financing can be a confusing one. Of the many places you may look, the United States Small Business Administration (SBA) can be a great resource for information on loans, and specifically, different SBA loan programs that are exclusively available to small businesses. Of those SBA loan programs, the… Read More