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Nav doesn’t charge to connect you with a lender, but it has other tiers you can pay for to unlock different degrees of credit reporting for you and your business. You can have your account billed monthly or quarterly — though opting for quarterly can save you up to 20%. Each tier comes with all of the features of the tier below it, along with additional perks.
Tier | Cost | Key features |
---|---|---|
Free | $0 |
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Business Manager | $29.99 per month |
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Business Boost | $39.99 per month |
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Business Loan Builder | $49.99 per month |
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Nav offers a free connection service so you can easily compare loan and credit card options tailored to your business. When you create an account, you can use its marketplace feature to find lenders willing to work with your business. Because its network is made up of a wide range of lenders, you may be able to find business financing even if you’re running a relatively new startup or have bad personal credit.
It rates your business using a program called MatchFactor, and claims that businesses are four times more likely to be approved when using its connection service. If your business has struggled to qualify for financing in the past, its free service can help you see if you’re eligible for funding through one of its partners.
There are no eligibility requirements to use Nav’s service. However, the lenders in its network may have their own criteria you need to meet, like minimum revenue or time-in-business requirements.
To create an account with Nav, you’ll need to provide the following information:
Nav may require additional information depending on the tier you sign up for and how you choose to use its other business-building services.
Nav doesn’t explicitly state what industries it works with, but the lender you’re connected with may have restrictions. Before you complete a full application, reach out to the lender to confirm your industry is eligible.
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.
BBB accredited | Yes |
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BBB rating | A+ |
BBB customer reviews | 1 out of 5 stars, based on 2 customer reviews |
BBB customer complaints | 1 customer complaints |
Trustpilot Score | 4.4 out of 5 stars, based on 60 customer reviews |
Customer reviews verified as of | 13 October 2020 |
Many 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, quite a few customers complain of problems with the dashboard and the large amount of telemarketing calls they received after signing up for Nav.
Since Nav is a marketplace and not a direct lender, you won’t apply for a loan or credit card through its site. Instead, you’ll create an account to get matched with potential lenders. Follow these steps to get started:
Once you have an account set up, Nav will filter potential lenders to find personalized options for your business. If you don’t want to create an account, you can simply click All business loans and select your business’s estimated credit score, annual revenue and age to manually sort lenders.
Nav will redirect you to the lender’s website so you can complete a full application. Double-check that your business meets the lender’s requirements before applying.
Since Nav is a connection service and not a lender, you won’t make repayments to Nav. Instead, you’ll need to contact your lender for repayment options and potential fees.
Prefer to apply through a lender directly? Compare even more options with our guide to business loans.
Review by
Kellye Guinan is a writer and editor with Finder and has years of experience in academic writing and research. Between her passion for books and her love of language, she works on creating stories and volunteering her time on worthy causes. She lives in the woods and likes to find new bug friends in between reading just a little too much nonfiction.
Nav works with over 100 top lenders to connect you to the right business loan — or business credit card — for your company. And with a membership, your business will have access to credit reports from multiple bureaus alongside advice to help build your scores. This makes Nav a useful tool for businesses looking to develop their financial profile to improve their future financing options.
However, a membership costs money — up to $49.99 a month. So while you can use its free connection service to find a lender, you’ll need to pay to get access to its other features. Some reviews have also complained about receiving marketing materials, a common problem when working with a connection service.
To apply directly with a lender, compare your business loan options below.