Nav Launches Calculator to Help Business Owners Determine Eligibility for CARES Act SBA Loans
Banking Fintech News

Nav Launches Calculator to Help Business Owners Determine Eligibility for CARES Act SBA Loans

Nav, a service that gives business owners the fastest, easiest and most trusted path to financing, launched an industry-first calculator that allows business owners to understand how much they are entitled to under the newly enacted Coronavirus Aid, Relief, and Economic Security Act

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“At Nav we understand the pain and frustration that many business owners are experiencing right now,” shared Greg Ott, Nav CEO. “In these uncertain times, Nav is quickly clearing up the confusion and chaos in order to bring simple, streamlined solutions to American businesses. Stay tuned… this is just the beginning.”

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The free CARES Act SBA Loan Calculator boils down the complex Paycheck Protection Program legislation into an easy-to-understand form. Nav’s in-house experts, with decades of experience in the business credit and lending space, helped interpret the legislation and design a calculator with just three simple questions:

  • Were you in business February 15, 2019?
  • Are you a seasonal business?
  • What were your total payroll costs in the last 12 months?

To ensure that business owners are providing the best data possible, a robust list of frequently asked questions and additional information is also provided alongside the tool.

“While relief dollars are not being disbursed yet, business owners should use this simple tool to determine what they may qualify for and start gathering what they need for the application,” encouraged Ott. “After using the calculator, we invite business owners to call in and allow us to help them prepare their applications for free.”

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