Resource Category: Finance

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

You may be thinking: “My business is profitable, we don’t need to borrow.” But many businesses with and without cash flow issues keep a line of credit handy for unexpected growth or expansion opportunities. A business credit line is a flexible, often low-cost way, to get short-term financing to cover working capital needs. What is a Business Line of Credit? A small business line of credit can help small business owners maintain consistent access to funds to smooth out the… 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

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

The Best Business Credit Cards for Startups

As the founder of a budding new company, there are plenty of good reasons for you to consider using a business credit card. Not only can it help you keep personal and business finances separate, it can come in handy covering cash flow, help build business credit, and put money in your pocket through perks and rewards. Here we share some of the best business credit cards for startups. How to Choose the Right Business Credit Card for Your Startup… Read More

Best Business Cards for Bad Credit

Business credit cards offer small business owners access to a flexible line of credit along with a convenient and safe way to pay for business expenses. Many offer cash back rewards and other perks. But if your credit scores aren’t high you may find it more difficult to qualify. Here we’ll discuss how to find and qualify for business credit cards for bad credit. In a Federal Reserve Bank of Chicago study, over 97% of businesses with poor or below-average… Read More