In this guide

  • Our verdict
  • Your reviews
  • Ask a question
Finder makes money from featured partners, but editorial opinions are our own. Advertiser disclosure
Nav business loans
4.8
★★★★★
Finder score
Min. Amount
$500
Max. Amount
$5,000,000
APR
Varies by lender

Our verdict

A one-stop shop for business loans and services — but be prepared to receive marketing calls and emails.

Nav is a connection service that uses your business and personal data to match you to business loans, credit cards and other services. It partners with over 70+ lenders, offering SBA loans, bank loans, lines of credit, equipment financing and cash advances – plus credit reporting, business checking accounts and more. It’s ideal for any business owner looking to compare a range of financing options in one place. But you may receive a large amount of marketing outreach – a common issue when working with a marketplace.

Best for: Any small business owner looking to compare loans and other business services quickly.

Pros

  • Free to compare loans
  • Large network of lenders
  • Explore loan options without a hard credit check
  • Compare a wide range of business services – not just loans
  • Cash flow analysis, social health monitoring and credit reports
  • “Next Best Option” to help businesses declined for funding

Cons

  • Full credit reports require paid membership
  • May receive multiple marketing calls and emails from lenders
  • Some users report mixed results with credit reporting

In this guide

  • Our verdict
  • Your reviews
  • Ask a question

Who Nav is best for

Nav is best for business owners looking for funding, as well as tools and resources to improve their business credit score and overall financial health. Nav offers a single dashboard where you can view and apply for loans, and get an overview of your business’s credit health, social scores and credit reports. This integrated system can help you better understand where your business sits financially and credit-wise, so you can increase your chances of being approved for a loan.

What is a Nav Prime membership?

The Nav Prime membership, which costs $49.99 a month, provides access to a range of benefits, including detailed business credit health data, business banking services, active reporting on two tradelines and access to the Nav Prime Card – all of which can help you boost your business credit score and overall financial health.

What makes Nav shine?

Nav stands out for its large selection of lenders offering a wide range of loans, business credit cards and business solutions. And its credit monitoring services can help you track your credit health and identify the factors that may be making it harder for you to get a business loan.

Nav also stands out for its technology, which matches your business’s profile with the lenders most likely to work with you. In a business environment where the majority of business loan applications get rejected, Nav is noteworthy for its relatively high approval rate – as high as 41% according to sources online.

And starting in 2024, Nav’s platform is offering its “Next Best Option” solution. If your business isn’t approved for a loan or credit card from a Nav provider, Nav is able to analyze why and let you know what your next best funding option is so you can access the funds you need.

Where Nav falls short

While Nav offers valuable free services like credit reports and financial insights, some users may find its range of free tools and resources limited. To access a wider range of features and more detailed reporting, you must pay for the Nav Prime membership, which costs $49.99 per month.

Nav loan details

Minimum credit score/credit rangeVaries by lender
APRVaries by lender
Loan amounts$500 to $5 million
Terms3 months to 25 years
Approval turnaroundAs soon as 24 hours
AvailabilityNot available in: Kansas, Louisiana, North Dakota, Tennessee, Vermont
FeesN/A
Other feesVaries by lender

How to qualify for Nav

To qualify for a business loan through Nav, be prepared to meet these criteria:

  • Credit score. A fair to excellent credit personal credit score is ideal, although some lenders may accept scores as low as 550.
  • Time in business. Your business should be operating for a minimum of six months, although many loans require at least one to two years in business.
  • Annual revenue. You’ll likely need to show a minimum of $50,000 up to $1 million a year in revenue. Again, this depends on the lender and loan type.
  • Personal guarantee. Most business loans require a personal guarantee, which makes the business owner personally responsible for repaying the loan if the business is unable to do so.
  • Other factors. Depending on the lender and the type of loan, you may need to provide a down payment and/or collateral, a business plan, financials and more.

How to apply

To apply for a loan through Nav, create a Nav account and enter your personal and business information.

Once you’re logged in to the Nav dashboard:

  1. Compare your loan and credit card offers under Get Financing.
  2. Apply for a loan by selecting Apply Now.
  3. Fill out the loan application.

Nav matches your information to their lenders and presents the loans and services you’re most likely to qualify for. In the same dashboard where you view loan offers, you can also access credit reports, and link your bank and social media accounts to analyze your business’s cash flow and social health.

How Nav compares to other lenders

Compare Nav’s rates, terms and features to other popular loan providers.

Nav business loans logo

Nav business loans

★★★★★

Finder rating 4.8 / 5

Go to site


Loan amount

$500 – $5,000,000


APR

Varies by lender


Loan term

3 months to 25 years


Requirements

550+ credit score

Lendio business loans logo

Lendio business loans

★★★★★

Finder rating 4.8 / 5

Go to site


Loan amount

$1,000 – $5,000,000


APR

Starting at 3%


Loan term

3 months to 25 years


Requirements

Operate business in US or Canada for 6 months or more, have a business bank account, minimum 500 personal credit score, at least $20,000 in monthly revenue

Fundible logo

Fundible

★★★★★

Finder rating 4.9 / 5

Go to site


Loan amount

$1,000 – $10,000,000


APR

Rates start at 1% per month


Loan term

3 to 60 months


Requirements

500+ FICO score, $200,000 annual revenue, 6 months in business, most recent business bank statements

Nav reviews and complaints

BBB accredited No
BBB rating F
BBB customer reviews 4 out of 5 stars, based on 19 customer reviews
BBB customer complaints 10 customer complaints
Trustpilot Score 4.2 out of 5 stars, based on 297 customer reviews
Customer reviews verified as of 27 February 2024

Most users rate Nav well — commenting on how easy the app is to use and how its credit reporting features helped them build their business and personal scores. However, some customers complain of problems with the dashboard, inexplicable drops in credit scores, difficulties canceling the service and a large uptick in the amount of telemarketing calls received after signing up.

Is Nav legit?

Yes, Nav is legit. It has a secure website with SSL encryption to keep your information safe from hackers. And it vets the lenders it works with to ensure its partners are also legit.

Its privacy policy covers how it collects and uses your personal information. It states that it won’t allow third parties to collect personally identifiable information without your permission.

Frequently asked questions

Does Nav do a hard credit pull?

Signing up for Nav and checking your credit scores and loan offers doesn’t affect your personal or business credit scores. However, Nav will do a hard credit pull if you apply for a business credit card or business loan through the service.

Is Nav Prime worth it?

Nav Prime could be a good investment in your business if you’re looking to boost your credit score and monitor your finances in one place. It provides detailed credit reporting, tradeline reporting, a no-fee business checking account, and a Nav credit card that helps build credit with each swipe.

Does Nav build business credit?

Although individual results vary, Nav claims that its service can increase business credit scores up to 50% in the first three months.

How much is Nav monthly?

While it doesn’t cost anything to set up a Nav account and view your loan offers, a Nav Prime membership costs $49.99 a month.

Does Nav charge users fees on its loans?

No, Nav’s loan comparison service is completely free for users. However, the lender you’re matched with may charge origination and other fees.

Your reviews

No reviews yet. Write a review

Ask a question

Ask a question
Avatar

Kat Finder

Writer

Hi there, looking for more information? Ask us a question.

Error label

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked
Accept and continue

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our finder.com Terms of Use and Privacy and Cookies Policy.

This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.

Go to site