Category: Business Credit

11 Common Small Business Loan Deal Killers

11 Common Small Business Loan Deal Killers

If you’ve ever had a business loan application denied and couldn’t get a straight answer from your lender as to why, we’re going to share 11 of the common small business loan deal killers, what they mean, and why they tend to make your application DOA. Deal Killer #1: Unknown Recent Advances A recent cash advance or business loan discovered that wasn’t disclosed in the month-to-date bank activity is a red flag to any lender. What Does This Mean? When… Read More
Thr3e Live Dance Complex: Nav’s $10,000 Grant Winner

Thr3e Live Dance Complex: Nav’s $10,000 Grant Winner

Thr3e Live Dance Complex is Nav's grant winner for this fall. The founders of Thr3e Live were originally a group of friends who loved the art of dance. What started out as a training and performance group evolved into a safe and welcoming place in Rhode Island that dancers of all ages could call home. They evolved into what they are today when Tjay Martino and Nikki Gyflopoulos recognized the need to take their vision to the next level. Tjay… Read More
Uline Business Credit: Everything You Need to Know About a Uline Business Account

Uline Business Credit: Everything You Need to Know About a Uline Business Account

If you want to work on building business credit, start by opening a vendor account that reports to credit bureaus. One of the best starter vendors to help your small business with that is Uline, a company that sells shipping supplies.  In this article, we’ll help business owners like you understand what Uline business credit looks like, who Uline reports to, and how you can get your own business credit with the vendor. What Is Uline Business Credit? Business credit… Read More
What Is a Trade Reference? A Guide to Trade Credit and Supplier Benefits

What Is a Trade Reference? A Guide to Trade Credit and Supplier Benefits

When you’re building your business, your suppliers can turn out to be some of your best creditors. They will often extend short-term credit to small business owners so they can purchase the supplies they need without paying up front. This helps them too; they can cement the relationship with the business owner so they don’t go elsewhere.  If you get trade credit and pay those accounts on time, your business can build valuable trade references that can help you establish… Read More
Bank of America Business Checking Account Review

Bank of America Business Checking Account Review

As a business owner, it’s considered best practice for you to keep your personal and professional finances separate—even if you are doing business as a sole proprietor or independent contractor. Opening a checking account just for your business expenses is an important first step in managing your company’s finances, and will save you time and stress at tax time. What’s more, if you anticipate borrowing in the future there are many lenders who will not approve a business loan application… Read More
Why Was My Business Loan Application Denied?

Why Was My Business Loan Application Denied?

Figuring out why your loan application was denied can be complicated, but that’s where Nav comes in. There are a lot of reasons why a business loan application might be denied, but what most small business owners should be asking themselves is, “What can I do to improve the odds of a successful loan application?” Lenders are basically trying to answer three questions: Can this borrower repay a loan? Does this business have the financial means to make each and… Read More