Nav Partners with Marcus by Goldman Sachs® to Offer Lines of Credit to Small Business Owners | news
SALT LAKE CITY, June 01, 2022 (GLOBE NEWSWIRE) — Today, Nav Technologies, Inc. (“Nav”), a simple and intelligent financing platform for small businesses, announced a partnership with Marcus by Goldman Sachs to offer small business owners make financially smart lines of credit with fixed interest rates, no setup or maintenance fees, and an all-digital experience. With the launch, Nav, which uses a machine learning platform to present curated financing options to business owners, extends its commitment to providing tools to simplify financing for entrepreneurs and business owners.
Many small businesses struggle with accessing finance and face the challenge of finding the right financing for their business needs. Marcus by Goldman Sachs is partnering with Nav to meet the growing need for small business owners to have more transparency into their financing options. Nav’s ability to link real business data to lender criteria empowers small business owners to make more informed and confident decisions.
“This collaboration with Marcus by Goldman Sachs underscores our ability to use advanced AI to connect business owners with some of the best lending options available,” said Greg Ott, CEO of Nav. “We are committed to serving the small business community, by expanding their available options and increasing transparency around decisions that affect their success. Adding lines of credit through Marcus to our platform allows us to better serve businesses by improving their access to capital.”
Goldman Sachs’ Marcus is Goldman Sachs’ digital banking platform that offers corporate finance through various partnerships. In addition, Marcus offers simple and transparent products to meet the spending, borrowing, savings and investing needs of millions of customers and help them achieve their financial goals. Launching with Nav will enable qualifying small businesses on the Nav platform to apply for credit lines from Marcus by Goldman Sachs, which provide access to flexible working capital financing at fixed and competitive rates through an all-digital experience.
“Marcus serves a large pool of small businesses through a number of existing partnerships. Our partnership with Nav will help us bring innovative products to more small businesses,” said Abhinav Anand, Head of Lending at Marcus by Goldman Sachs. “We’re excited to partner with another like-minded brand as we expand our small business lending platform further expand and provide better access to working capital.”
This collaboration is another example of Nav’s commitment to making corporate finance simple and personal. Nav makes it easy for small business owners to use their own data to compare loan, credit card, checking account, and other business service options to confidently find the right solution for their needs.
To learn more about Nav and this new offering, visit nav.com.
About sat nav
Nav is the largest marketplace for curated financial products for small businesses. By using real business data and proprietary scoring, Nav gives small businesses more transparency in finding the right loan or credit card option. Nav offers a unique financial health dashboard that displays credit and cash flow insights alongside recommended financing options. Nav’s platform also seamlessly integrates with other software and websites, making it the leading embedded finance solution for SMBs. Goldman Sachs Principal Strategic Investment led Nav’s 2019 Series C round, in which Nav raised $44.8 million of equity.
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About Marcus from Goldman Sachs
Marcus by Goldman Sachs® provides products and tools designed to help people and small businesses achieve financial well-being. Marcus offers a high yield online savings account; certificates of deposit with different maturities; no-fee unsecured fixed rate personal loans, unsecured small business financing; managed ETF portfolios; Credit cards and free financial tools & trackers. All of Marcus’ lending and savings products are provided by Goldman Sachs Bank USA, a member of the FDIC. Brokerage and investment advisory services provided by Marcus Invest are provided by Goldman Sachs & Co. LLC, an SEC-registered broker-dealer and investment advisor and a member of FINRA/SIPC. Research about our company in FINRA’s BrokerCheck. All Marcus products benefit from Goldman Sachs and its 150+ year history of financial expertise, risk management and customer service. Visit www.marcus.com for more information.
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