Category: Business Credit

The Best Working Capital Loans: What You Need to Know

The Best Working Capital Loans: What You Need to Know

Working capital is the money a business uses to cover its daily expenses like utilities, supplies, payroll, and rent. A working capital loan offers your business a way to temporarily pay for these expenses when your bank account is running low.  You might think that if your business is successful and you manage its finances correctly, you'll never need a working capital loan. But that’s not necessarily true. Maintaining a balance of cash on hand can be a challenge. While… Read More
I Was a Victim Of Business ID Theft: It Can Happen to You, Too

I Was a Victim Of Business ID Theft: It Can Happen to You, Too

There have been 1.2 million complaints of EIDL loan identity theft as of August 2021, according to a report from the Office of the Inspector General titled Top Management and Performance Challenges Facing the Small Business Administration in Fiscal Year 2022. That means over a million business owners believe their business identity has been used to apply for COVID relief loans administered by the Small Business Administration.  I’m one of those victims. Here’s what happened to me, along with steps… Read More
The 5 C’s of Credit

The 5 C’s of Credit

Small business owners looking for a loan need to understand the way their creditworthiness is evaluated to put their best foot forward—understanding the 5 C’s of Credit can help. As a general rule, there are three questions for which lenders need the answers: Can you repay a loan?Will you repay a loan?What will you do if something unexpected happens? Lenders might not ask them this way, but today I’d like to share with you the 5 metrics many lenders use… Read More
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