Nav, which provides free access to personal and business credit scores, has released the Nav Small Business Advisor Program.

The new initiative gives advisors who work with small-business owners free tools and training aimed at helping them advise clients on ways to build strong business credit and improve their chances of getting access to capital when they need it.

The users Nav has in mind for its Small Business Advisor Program are professional advisors such as CPAs, enrolled agents and accountants, as well as advisors who help entrepreneurs through agencies such as Small Business Development Centers , SCORE offices, Women’s Business Development Centers and Veteran Business Outreach Centers.

The program includes training, articles and calculators for advisors to use on their websites or in their newsletters, along with additional training on credit and financing topics as it becomes available.

According to research conducted by Nav, most small-business owners (82 percent) don’t know how to interpret their business credit score. Yet small-business owners who understand their business credit scores are 41 percent more likely to be approved when they apply for a business loan, and 31 percent more likely to consider expanding their business.

“I know what it’s like to launch and run a small business, and take on roles you’ve never been trained for,” Nav co-founder and CEO Levi King said in a statement. “I started Nav to ease the burden of figuring out credit and financing. It’s too important to ignore, but most business owners don’t have time to deal with it. Advisors can now use our tools to help shorten the learning curve and help entrepreneurs figure out how to take their business to the next level. We’re thrilled to launch this initiative.”  

Lee Lambert, director of the Alameda County SBDC, has been using Nav to assist with client engagements since 2014. “Clients who are potentially seeking loans are requested to sign up for the free version of Nav and download their credit information prior to the initial counseling session,” he said in a statement. “The information and tools offered on the site are a good starting point to help the client understand some of the financing options and strategies likely available to them.”

Advisors can sign up at Nav.com/advisors.

 

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