SALT LAKE CITY, June 01, 2022 (GLOBE NEWSWIRE) — Today, navigation 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 financially smart lines of credit with fixed rates, no origination or maintenance fees, and a fully digital experience. Through the launch, Nav, which leverages a machine learning platform to present business owners with curated financing options, is expanding its commitment to providing tools to make financing simple for entrepreneurs and business owners.
Many small businesses struggle with access to funding and face challenges finding the right financing to meet their business needs. Marcus by Goldman Sachs is working with Nav to address a growing need to offer small business owners more transparency in their financing options. Nav’s ability to connect real business data to lender criteria allows small business owners to make more informed and confident decisions.
“This collaboration with Marcus by Goldman Sachs highlights our ability to use advanced AI to pair business owners with some of the best available lending options,” said Greg Ott, CEO of Nav. “We are committed to serving the small business community by increasing their available options and improving transparency around decisions that impact their success. Adding lines of credit through Marcus to our platform allows us to better serve businesses by increasing their access to capital.”
Marcus by Goldman Sachs is Goldman Sachs’ digital banking platform that offers business financing through various partnerships. In addition, Marcus offers simple and transparent products to address the spending, borrowing, saving, and investing needs for tens of millions of customers to help them achieve their financial goals. The launch with Nav will allow qualified small businesses on Nav’s platform to apply for Marcus by Goldman Sachs lines of credit, offering access to flexible working capital funding at fixed and competitive rates through a completely digital experience.
“Marcus serves a large pool of small businesses through a series of existing partnerships. Our partnership with Nav will help us continue to bring innovative products to additional small businesses,” said Abhinav Anand, Head of Lending at Marcus by Goldman Sachs. “We’re excited to collaborate with another like-minded brand as we continue to expand our small business lending platform and provide more access to working capital.”
This collaboration is another example of Nav’s commitment to make business financing simple and personalized. Nav makes it easy for small business owners to use their own data to compare options across loans, credit cards, checking accounts and other business services to confidently find the right solution specific to their needs.
To learn more about Nav and this new offering, visit nav.com.
navigation is the largest marketplace of 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 showing credit and cash flow insights alongside recommended financing options. Nav’s platform also seamlessly integrates within other software and websites, making it the leading embedded finance solution for SMBs. Goldman Sachs Principal Strategic Investment led Nav’s Series C round in 2019, in which Nav raised $44.8 million in equity capital.
Praytell for Nav Technologies
About Marcus by Goldman Sachs
Marcus by Goldman Sachs® offers 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 in a variety of terms; no-fee, fixed-rate unsecured personal loans, unsecured financing for small businesses; managed portfolios of ETFs; credit cards and free financial tools & trackers. All Marcus loans and savings products are provided by Goldman Sachs Bank USA, Member FDIC. Brokerage and investment advisory services offered by Marcus Invest are provided by Goldman Sachs & Co. LLC, which is an SEC registered broker-dealer and investment adviser, and member FINRA/SIPC. Research our firm at FINRA’s Broker Check. All Marcus products benefit from Goldman Sachs and its over 150-year history of financial expertise, risk management and customer service. For more information please visit marcus.com.
Goldman Sachs Contact