Nav introduces more certainty for small businesses, with the launch of instant financing
Through its partnership with Enova SMB, Nav continues to make it easier for small businesses to access capital
SALT LAKE CITY, Feb. 09, 2022 (GLOBE NEWSWIRE) — Nav Technologies, Inc. (“Nav”), the simple and intelligent financing platform that makes it easy for small businesses to compare their financing options, today announced an expansion to their partnership with Enova SMB, which includes Enova International’s small business funding brands OnDeck and Headway Capital. Through this expanded partnership, Nav will be the first two-sided, open marketplace to dramatically streamline access to capital by offering access to instant lines of credit for qualified customers with funds available as soon as the next business day.*
Faced with a lending landscape created to serve large businesses, many small business owners have difficulty finding the right financing option. The result is lost time, frustrating rejections and damaged credit. Those challenges have long been ignored, with little innovation focused on the small business lending experience. By partnering with Enova SMB, Nav is the only platform that can combine customer business data with its network of lender relationships to provide access to instant financing, making it easier than ever for qualified small businesses to get the capital they need.
“Our expanding partnership with Enova SMB is continued evidence of Nav’s mission to create better, easier financing options,” said Walt Levengood, Nav VP of Sales and Business Development. “Until now, small businesses were left victim to the highest bidding lender on Google or led to blindly accept the one option presented by a closed system provider. By capturing the customer data lenders need in advance, Nav is uniquely positioned to provide access to the first instant financing offers in an open environment. This means small business owners can now evaluate loan options with more certainty and confidence.”
Nav will continue to drive change, making it easier for small businesses to transparently compare options and confidently find the right solution specific to their needs. From access to instant financing offers to small business credit cards and other business services, Nav has helped over 1.4 million small businesses access the best financing options based on real-time business data.
“At Enova SMB, we believe accessing capital should be easy and clear,” said Jim Granat, Head of Enova SMB. “We are thrilled to partner with Nav to enable small businesses to easily compare loan options and, ultimately, help more small businesses achieve their goals with fast, flexible and transparent funding.”
About Nav
Nav uses real business data and proprietary scoring to quickly match borrower qualifications with the best business loans and credit cards available to them. The leading business financial management app, Nav’s intelligent business financing solution powers insights and opportunities for daily financial decisions that fuel their success. Nav’s solution is also leveraged by other business service providers to enhance their customer experience. More about Nav is available at Nav.com.
About Enova SMB
Enova SMB, which includes Enova International’s small business brands OnDeck and Headway Capital, supports small businesses in achieving continued success by offering access to fast, flexible and transparent credit options when they need it most. While bank loans aren’t always a viable option for many small businesses, Enova SMB’s cutting-edge analytics and technology enable it to offer customers trusted funding choices. Once approved, small businesses can get funds sent to their bank account by the next business day or sooner. With tailored, transparent payment terms and a dedicated, U.S.-based customer support team, Enova SMB is committed to helping its small business partners accomplish great things.
Nav Contact
General inquiry: [email protected]
To partner with Nav: [email protected]
Enova Contact
Public relations: [email protected]
*Financing is subject to execution and acceptance of the required line of credit agreement.
