Nav has added a new “Credit Health Experience” to its financial health platform for small businesses.
New Nav Credit Health helps small business owners understand and learn how to improve their business and personal credit, and know how to take advantage of both their current and future positions to raise capital , the company said in a press release on Wednesday (April 10). .
“Our new credit health experience brings everything in one place to help businesses not only understand and strengthen business credit, but also confidently leverage credit health for new growth strategies and financing. We are uniquely positioned to help wherever we are,” Nabi said in the release.
With this information, small business owners will be better equipped to take actions to improve their business credit over the long term, such as paying on time, improving credit utilization, and maintaining trade line reporting, according to the release. .
As your score changes, you can see how this affects your eligibility for financing options, the release states.
The new service joins Nav's platform and provides small businesses with cash flow and credit insights, proposed financing options, and the ability to see what financing is available to them before applying, according to a release. do.
“The new credit health experience is a new addition to the Nav platform that aims to improve the credit health of small businesses, ultimately improving their access to capital and putting them in the best position to thrive and grow. ” states the press release.
This announcement comes on the heels of several other additions to the Nav platform.
For example, Nav partnered with Fundbox in March to make it easier for small businesses to access capital. This integration will allow him to present Fundbox's pre-approved offers to his Nav users.
In February, Nav partnered with Gusto to help small businesses overcome cash flow obstacles. The partnership will enable users of Gusto's payroll, benefits and HR platform to build business credit and take advantage of Nav's network of financing options.
In January, Nav announced the launch of another addition to its platform: a “next best option” service for small businesses that have been denied credit cards or loans. This service gives these companies a clear view of their alternatives.
