Category: Newsroom

70% of Business Owners Without a Business Bank Account Get Rejected for Loans

70% of Business Owners Without a Business Bank Account Get Rejected for Loans

Business owners without a business bank account are facing an uphill climb when it comes to getting approved for financing, according to a new survey. Nav surveyed more than 600 business owners to find out how they use their business bank account and what impact it has on their financial situation. Of business owners without a business bank account, 70% were rejected for a loan in the past two years. Many lenders use business bank account data in the underwriting… Read More
10 States With the Best Business Credit Scores in 2018

10 States With the Best Business Credit Scores in 2018

It’s good to be a business owner in the Aloha State. Not only do they live in a notoriously beautiful place, Hawaiian companies have the highest credit scores of any U.S. state, averaging a business credit score of 54.6 on the Experian Intelliscore Plus℠ scale of 0 to 100. Hawaii’s credit score is considered low- to medium-risk. Businesses with scores in this range typically find it easier to qualify for loans with the best terms and lower interest rates. According… Read More
What Trump’s Health Care Order Means For Small Businesses

What Trump’s Health Care Order Means For Small Businesses

On Thursday, President Trump signed an executive order intended to allow small businesses and potentially individuals to buy health insurance that bypasses state regulations and Affordable Care Act (ACA) protections. This comes after efforts to repeal and replace ACA failed to pass in Congress earlier this year. We previously wrote a deep dive covering what a complete repeal of ACA would mean for small business owners. The most extensive part of the president’s order is a move that would allow… Read More
64% of Businesses Expect More Complex Regulations Under Trump Administration

64% of Businesses Expect More Complex Regulations Under Trump Administration

Businesses have much more to worry about than just overhead and sales these days, according to the “’The $100,000 Bill” survey by The Workforce Institute at Kronos. With over half of surveyed business owners spending between $40,000 to $100,000 just to prepare for new business regulations, it seems that each new law or mandate has the potential to cut into profits. Of those business who track the costs (many do not), these expenses include such activities as hiring legal consultation,… Read More
Video: The Unique Way Nav Solves for Small Business

Video: The Unique Way Nav Solves for Small Business

Despite the outsized role they play in the economy, it’s damned hard to run a small business in America. Nearly half of all startups are forced to close shop within five years. These are people who work their tails off, sacrificing for their employees and families, often pouring personal savings into their business. In many cases, they simply run out of money. Nav is on a mission to help more of them succeed. It’s one of the reasons we were… Read More
Nav Named to CB Insights’ Fintech 250 List

Nav Named to CB Insights’ Fintech 250 List

At Nav, we’re using data and technology to give small business owners a more effective way to manage their business's financial health. That’s why we’re honored CB Insights named Nav to their Fintech 250 list, which recognizes the most promising, private fintech companies from around the world. The list was revealed during Future of Fintech 2017 event in NYC on June 27th. "The financial services industry will see more change in the next 10 years than it has in the last 100.… Read More