Access real world business credit reporting tools and services for small business owners
For those that need to establish or build legitimate business credit we highly recommend the NAV Prime Account for small business.
NAV PRIME FOR BUSINESS
Learn the formula to building wealth and use it to:
Add a positive Business Credit Line to your organization today with minimum effort today!
Watch a Video on How Nav Prime Can Hep You Develop Your Business Credit Profile
Build business credit history from everyday purchases with the Nav Prime Card.
A Credit Strong business credit builder account is the combination of a cash secured commercial installment loan and a commercial savings bank account.
Benefits include:
Plus! Credit Strong customers are able two Credit Strong Business accounts as well as two personal Credit Strong accounts.
Experian: 1 to 100
Dun & Bradstreet: 0 to 100
Equifax Delinquency Score: 224-580
FICO SBSS: 0 to 300 (This is a blend of business and personal credit and is used primarily for SBA loans)
Head here for a detailed breakdown on how Experian, FICO SBSS, and Dun & Bradstreet determine these scoring ranges
First step to build business credit
The easiest way to start establishing and building business credit is to get Nav Prime. Nav Prime gives you up to two tradelines reporting to all major business credit bureaus. While you're building business credit, you can also see your scores and the impact of your business credit building on your business credit profile — all with Nav Prime. Click here to get Nav Prime.
You can also apply for vendor accounts (or net-30 accounts). These accounts are one type of business tradeline that gives you 30 days (a form of credit) to pay your bill, rather than requiring payment upfront.
Many net-30 accounts report your payments to the major business credit bureaus, and these bureaus use that information to create business credit reports for your company.
There are a few simple steps that are helpful to take before you start applying for easy net-30 accounts:
Get an employer identification number (EIN) from the IRS: An EIN is your federal tax identification number that you might need for vendor or credit applications. An EIN isn’t the identifying number in the business credit system the way Social Security numbers are for personal credit, but it helps create a separate business identity.
Register your business with your state. We strongly recommend you form a legal entity such as an LLC. Other options are S corps or C corps. If you decide to continue operating as a sole proprietor (no legal entity) we recommend you at least register your business name as a fictitious name (also known as a “DBA”) with your state.
List your business phone number with directory assistance. Here’s how.
Learning about net-30 vendor accounts was a game-changer for serial entrepreneur (and Nav founder and CEO) Levi King’s first business — a sign manufacturing business he launched in his twenties. Because he had been raised to avoid credit and debt, he bootstrapped his business, and cash flow was always an issue.
He’d have to purchase cement, plastic, steel and other supplies — plus cover labor and other overhead costs — before he could manufacture and install the signs his clients would purchase and pay for later. It was incredibly stressful and there were many sleepless nights when he worried about how he’d keep his business afloat.
Then one of his suppliers suggested he fill out a credit application, which would allow him to get supplies on net-30 terms, which meant he wouldn’t have to pay the supplier for thirty days. With that extra time to pay, he could often complete a job and invoice his clients without laying out money for the supplies up front. “It was a great way to float costs between customer payments,” Levi says.
Nav Prime offers guaranteed reporting to build your business credit history. Nav submits your Nav Prime payments to all the major business bureaus on the first of each month. From there, it can take between 14 to 45 business days for the bureaus to add the information to the reports.
If you have opened a Nav Prime Card, your tradeline will be submitted during the first week of the month.
All plans come with 24/7 business credit alerts, cash flow insights, and one-on-one access to specialists. Only the paid plans give you full business and personal credit reports. The higher-tier plans also report your account payments to business bureaus as a tradeline and may help you build your business credit.
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Head here for more details on the features of each plan.
How does Nav Prime
improve access to funding?
 Nav Prime provides access to business
credit-building tools that can improve a small
business’s credit profile, opening up access
to more funding options.
Nav partners with 70+ lenders, and has gained
feedback on the personal and business credit
scores they’re most commonly using for
capital decisioning to provide those in the
Nav Prime bundle.
As SBOs build financing qualifications using
Nav Prime, they can see how their data seen
by lenders improves, and utilize Nav’s financial
health platform to get connected to 160+ new
lending and credit card options.
Since a teenager I have always enjoyed the thrill of the sale of a product or service. In high school it was mambas, Capri Suns, and Now & Later packs before first class. Senior Year, it was custom Mix Tapes during the age of Napster and the beginning era of decentralized streaming.Â
I have always been enthralled with the art of business, entrepreneurship and the true heart of it all, the
PEOPLE
Helping people has been my greatest joy. I believe that if more intelligent individuals better understood what is available to them via having the right mindsets and systems in place, then they could certainly create a better economic outlook for themselves whether personal or business.
" My nephew is the smartest man I know, he has helped me to better understand the markets, and I now know that I can buy my income, even in retirement!"
" I have spent years trying to start my real estate renovation business. I'm just glad that I now know how to set up my money system to keep everything going."
" Being a good steward of what God has given me has always been an important aspect of my life and I needed to learn how to become a better one. I know how to run my life like a business, and it feels really good!'"