To say the U.S. business lending ecosystem has been turned on its head in the last few weeks would be an understatement. Never before have FinTechs and lenders had to recalibrate and reposition their focus so quickly to serve the needs of small businesses.
As COVID-19 has taken hold of communities around the US, lenders have gone from making small changes to borrower qualifications, to heavy restrictions – to delivering no funding at all.
Nav.com stepped up and working through the weekend built the first-to-market CARES Act Paycheck Protection Program Calculator. The platform powers insights directly to small businesses on how much relief they could anticipate qualifying for.
Through Nav’s innovation, small businesses in desperate need of quick financial aid can now cut through the chaos and use their engine to connect them to lenders willing and able to work with their loan size, industry and other pre-screening factors.
Watch the full video interview above with Nav’s CEO, Greg Ott now.