SMB credit reporting company Creditera is undergoing extensive reform by realigning its business finance offerings with the launch of a new online marketplace for small businesses and rebranding itself as “Nav.”
The California-based company has reportedly reinforced its financing marketplace with the acquisition of Fundastic, an online platform known for its extensive library of business financing educational content and tools. With the acquisition, Nav is using Fundastic’s content resources to make smarter marketplace recommendations and provide product reviews on subjects like loans, credit cards, crowdfunding and bank accounts, among others, the company said in a statement.
“We’re excited to bring Fundastic into the fold because their financing tools and brazenly truthful approach to offering financing advice align perfectly with our vision to serve small businesses in an area where they desperately need help,” said Levi King, cofounder and CEO of Nav.
The update to Nav’s marketplace also includes an upgraded interface that makes it easy for businesses to search and apply for financing options, filtered by their credit scores and business needs.
In addition, Nav’s enhanced financing marketplace is offering tools that utilize data and surrounding information, which is used by lenders and business partners, like cash flow data, to build a financing model that is more comprehensive than the business credit scores, King added.
“Credit health is the core of good financial health, and a business credit score is one of many things small business owners need to qualify for good financing terms,” King said. “Now, as Nav, we’re taking this much further. We’re here to guide business owners — in a very simple and user-friendly way — so they know they’re getting the best financing product for their unique needs, know exactly how much it’s going to cost and help them take steps to improve their credit profile so they can qualify for the best funding terms.”