NAV PRIME: A SURESHOT SOLUTION FOR FINANCIAL SUCCESS OF SMALL & MID-SIZE BUSINESSES IN U.S.

If you are a small 'or' mid-size business owner, looking for a way to improve your credit score, access financing options, monitor your business performance, keep track of your income, expenses, cash flow & manage your finances effectively. You must be wandering how do you do all this without spending hours on tedious tasks or hiring expensive professionals. No need to worry still, you must give a try to Nav Prime by NAV (i.e. the leading credit and accounting platform). Nav Prime is a premium subscription service that offers various features and benefits for entrepreneurs who want to grow their businesses and achieve their financial goals.

In this blog post, we will discuss Nav Prime products, features, working, pricing and advantages and drawbacks. Till the end of this post, it will be clarified why & how it is important for today's business finance.

*This post contains partner links and i/we will be compensated if you purchase through these links.

TABLE OF CONTENTS

INTRODUCTION
WHAT IS NAV PRIME MEMBERSHIP?
NAV PRIME PRODUCTS
FEATURES
WORKING
PRICING PLANS & BENEFITS
PROS & CONS
IS NAV PRIME WORTH IT?

WHAT IS NAV PRIME?

Nav Prime Membership by Nav.com is a service that helps small business owners access and manage their credit and financing options. With Nav Prime, you can get personalized recommendations for the best loans and credit cards for your business, monitor your credit scores, and access exclusive offers and discounts from Nav's partners. Nav Prime also provides you with expert guidance and support from Nav's team of credit and lending specialists. Whether you need to improve your credit, find funding, or grow your business, Nav Prime can help you achieve your goals.

NAV PRIME PRODUCTS & FEATURES

Nav Prime is designed to help you achieve financial success in business. Whether you want to grow your revenue, reduce your debt, save money, or access funding, Nav Prime can help you get there. There are four main types of Nav Prime Products:

Nav Business Checking Account
Nav Prime Card
Tradeline Reporting
Detailed Credit Reports

1. Nav Business Checking Account: This is a free online business checking account that lets you manage your money with ease. You can deposit checks, pay bills, transfer funds, and more with no monthly fees, no minimum balance requirements, and no overdraft fees. You can also get cash-back rewards on your purchases and access exclusive discounts from Nav's partners.

2. Nav Prime Card: This is a secured business charge card that can help you build credit score. You can use card anywhere where Visa is accepted. Getting Nav Prime card does not require any credit check 'or' security deposit.

3. Tradeline Reporting: This is a service that reports your Nav Prime Card activity to the major credit bureaus: Equifax, and Experian. This helps you establish a positive credit history and improve your credit score over time. You can also monitor your credit reports and scores on the Nav app 'or' website. Nav Prime membership reports 2 tradeline / loan repayment activities every month. Tradeline reporting activites include:

a.) First loan repayment activity includes Nav Prime membership fee payment (i.e. $49.99/month).

b.) Second tradeline activity includes Nav Prime charge card's used-credit loan repayment.

4. Detailed Credit Reports: This is a service that gives you access to comprehensive credit reports from the major bureaus: Experian & Equifax. You can see your credit scores, payment history, credit utilization, inquiries, and more. You can also get personalized tips and recommendations on how to improve your credit profile and qualify for better financing options.

Nav Prime Products are a great way to take control of business finances and credit. Whether you are just starting out or looking to grow your business, Nav Prime Products can help you achieve your financial goals. To learn more about Nav Prime Products, visit their website.

KEY FEATURES OF NAV PRIME

Some of the features and tools that you can use with Nav Prime are:

Credit: This feature shows credit scores from major bureaus, along with detailed reports and factors that affect them. You can also see how your scores compare to other businesses in your industry and location. You can use this feature to monitor your credit history, identify errors or fraud, and improve your credit score over time.
Financing: This feature helps you find and apply for the best financing options for your business. You can compare loans, credit cards, lines of credit, invoice financing, and more from a network of over 100 lenders. You can also see how likely you are to qualify for each option based on your credit score and other criteria. You can use this feature to access funding quickly and easily, without affecting your credit score.
Cash Flow: This feature helps you manage your cash flow with a smart dashboard that shows your income, expenses, and projections. You can also see how much cash you have available at any given time, how much you need to cover your bills, and how much you can save or invest. You can use this feature to plan ahead, optimize your spending, and avoid cash flow problems.
Alerts: This feature sends you alerts and notifications when something changes in your financial profile or when new opportunities arise. For example, you can get alerts when your credit score changes, when a new financing option becomes available, when a payment is due or overdue, or when a partner offers a special deal or discount. You can use this feature to stay on top of your finances and take action when needed.

Nav Prime is more than just a tool. It's a partner that helps you achieve financial success in business. By using Nav Prime regularly, you can improve your credit score, access funding, manage cash flow, save money, and grow your business.

BENEFITS OF NAV PRIME CARD (VIDEO TUTORIAL)

Disclaimer: Nav Technologies, Inc. is a financial technology company and not a bank. Banking services are provided by Blue Ridge Bank, N.A., and Thread Bank, Members FDIC. The Nav Visa® Business Debit Card is issued by Blue Ridge Bank, N.A., and the Nav Prime Charge Card is issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa cards are accepted. Your funds are FDIC-insured up to $250,000 through Blue Ridge Bank, N.A., Member FDIC.

WORKING OF NAV PRIME

Step 1: Sign up for NAV Prime

To use Nav Prime, you need to sign up for an account on Nav and choose the Nav Prime plan. You will need to provide some basic information about yourself and your business, such as your name, email address, phone number, business name, industry, revenue, and number of employees. You will also need to verify your identity by providing your social security number or EIN. Once you sign up, you will be able to access your dashboard, where you can see your credit scores, monitor your cash flow, apply for financing, and access other features and benefits.

Step 2: Connect your bank accounts and other apps

Once you have an account, you can connect your bank accounts and other compatible apps to Nav Prime. This will allow you to sync your transactions and data automatically and securely. You can also import your data from other accounting software or spreadsheets if you have any.

Step 3: Set up your chart of accounts and tax settings

Next, you need to set up your chart of accounts and tax settings in Nav Prime. Your chart of accounts is a list of categories that you use to track your income and expenses. You can customize it according to your business type and industry. Your tax settings are the rules and rates that apply to your business taxes. You can choose from different tax regimes and regions in Nav Prime.

Step 4: Start recording and managing your transactions

Now you are ready to start recording and managing your transactions in Nav Prime. You can create invoices, bills, receipts, payments, refunds, and more with a few clicks. You can also track your cash flow, profitability, budget, and financial performance with real-time reports and dashboards. You can also collaborate with your team members, clients, and accountants in Nav Prime.

By using Nav Prime, you can improve your business finances by saving time, money, and hassle. You can also get more insights and control over your financial situation and make better decisions for your business growth. Try Nav Prime today and see the difference yourself.

NAV PRIME PRICING & BENEFITS

Nav Prime membership costs $49.99/month only. You can cancel your subscription anytime without any penalty. It includes various benefits such as:

1. Detailed Credit Reports

3 business and 2 personal credit reports — all in one place

2. Tradeline Reporting

Nav Prime membership payments and Nav Prime Card repayments automatically sent as 2 tradelines to the two major credit bureaus

3. Business Checking Account

No minimum balances, no opening deposits, no monthly account fees, no domestic transaction fees

4. Nav Prime Card

No credit checks, no security deposit, reports as tradeline

PROS AND CONS OF NAV PRIME

1. Nav Business Checking Account

Pros:

No monthly fees, no minimum balance, no overdraft fees
Earn 1% cash back on eligible purchases
Access to over 55,000 fee-free ATMs worldwide
Free bill pay, mobile deposit, and ACH transfers
FDIC insured up to $250,000

Cons:

No physical branches or chequebooks
A foreign transaction fee of 1% applies to purchases made outside the US

2. Nav Prime Card

Pros:

No personal guarantee or credit check is required
Build credit with monthly reporting to the bureaus
Flexible credit limit based on your cash flow (up to $100,000)

Cons:

Not accepted everywhere (Visa network only)

3. Tradeline Reporting

Pros:

Boost your credit scores by reporting your existing accounts (such as phone, internet, utilities, etc.) to the bureaus
Easy online enrollment and verification process
No impact on your personal credit
Affordable pricing

Cons:

Reporting may take several days to weeks to reflect on your credit reports

4. Detailed Credit Reports

Pros:

Get unlimited access to your credit reports and scores from the two major bureaus (Experian & Equifax)
Monitor your credit activity and alerts for any changes or errors
Compare your credit profile with other businesses in your industry and location
Get personalized recommendations and tips to improve your credit health and readiness for financing

Cons:

Credit reports and scores are not updated in real-time (may vary depending on the bureau and the frequency of data updates)
Credit scores are not the only factor that lenders consider when evaluating your loan application (other factors may include income, debt, collateral, etc.)

IS NAV PRIME WORTH IT?

Nav Prime is a cloud-based valuable credit accounting software service for small business owners who want to improve their credit score, access financing options, manage their cash flow, invoices, expenses, taxes, monitor their business performance and more. That's how it provides various features and benefits that can help you grow your business and achieve your financial goals. However, at last, the decision totally depends on your specific needs & preferences. If you are interested in trying Nav Prime, you can sign up here!