Elevate Your Business’s Purchasing PowerOur GO BIZ® Rewards credit card is designed to help keep your business moving forward. Enjoy a great rate, no annual fee, your choice of rewards and more. The GO BIZ® Rewards card also makes it easier to keep your business and personal finances separate while tracking and managing your expenses. Show
Plus, the card features contactless technology, so you can make purchases quickly and securely with just a tap.
Business credit card terms and conditions PDF Additional Benefits VisaWith a Navy Federal GO BIZ® Rewards Visa Credit Card, you’ll not only expand your small business’s buying power—you’ll also have access to Visa’s special security benefits. GO BIZ® Rewards Mastercard cardholders enjoy additional business programs and benefits to empower their purchases. Mastercard’s suite of offerings make managing small business spending simpler. Select services include:
You’ll receive an update approximately 7–10 business days after you’ve submitted your request. Note: If you’re a Navy Federal employee applying for business credit, you must contact Business Solutions by calling 1-877-418-1462 to apply. 1 As of 11/01/2022, GO BIZ® Rewards credit card rates range from 12.15% APR to 18% APR, are based on creditworthiness, and will vary with the market based on The Wall Street Journal Prime Rate. ATM cash advance fees: None if performed at a Navy Federal branch or ATM. Otherwise, $0.50 per domestic transaction or $1.00 per foreign transaction. ↵ 2 ATM Cash Advance Fee: None if performed at a Navy Federal branch or ATM; otherwise, $0.50 per domestic transaction or $1.00 per foreign transaction. ↵ 3 Rewards are earned on eligible net purchases. "Net purchases" means the sum of your eligible purchase transactions minus returns and refunds. Eligible purchase transactions do not include, and rewards are not earned for, the following transactions: cash advances, convenience checks, balance transfers, gambling, or fees of any kind, including finance charges, late fees, returned check fees, and ATM cash advance fees. Cash equivalent transactions, such as the purchase, loading, or reloading of gift and prepaid cards (e.g., money orders, GO Prepaid Cards and other cash equivalent gift cards), may not be eligible purchase transactions and may not earn rewards. Rewards expire 4 years after they are earned, as long as the account is open. ↵ 4 Points expire 4 years from the month in which they were earned, as long as the account is open. ↵ 5 Best Buy, The Best Buy logo, tag design and BestBuy.com are trademarks of BBY Solutions, Inc. ↵ Can I apply online for a business loan?For requests of up to $50,000, you may submit your loan application through our online Secure Document Upload. Requests greater than $50,000 must be discussed with a lending representative who will explain the requirements and application process. Can I get preapproved for a loan?At this time, Navy Federal doesn't offer preapprovals for any business loans or business lines of credit. All requests go through our business underwriting process, which, if approved, determines the credit amount, interest rate and term of the loan. What is considered a new or “start-up” business?A start-up business is one that has been in business for less than 2 years. Does Navy Federal work with the Small Business Administration (SBA)?Yes, SBA guarantees may be an option for working capital, business expansion, franchise expansion and select start-up situations. They can be great for conserving business liquidity by allowing higher loan to value (LTV) for large equipment or similar purchases. Does my business need to be a Navy Federal business member to apply for business financing?Yes, a business needs to become a business member prior to applying for a loan. For the business to be eligible for a business membership, all business owners must be current Navy Federal members in good standing. What determines my interest rate?The interest rate on your business loan is risk-based and determined by your circumstances and credit history. Our evaluation may include a review of information on the business, individual owner(s) and/or guarantor(s) or a combination, as well as the following:
In general, those with great credit qualify for more favorable rates than those whose credit isn't as good. For more information on factors that may affect approval or rates, see our article on What Lenders Look for in a Loan Application. What determines the line amount for a Checking Line of Credit (CLOC)?The line amount on a Checking Line of Credit is based on creditworthiness. How do I access my Checking Line of Credit (CLOC)?A draw on the CLOC is triggered when the balance on the business checking account isn't sufficient to cover a debit presented against the account. The draw amount will depend on your available credit limit at that time. Is my personal credit checked when I apply for a business loan?Yes, personal credit scores are taken into consideration during the decision process. Does Navy Federal offer term loans secured by cash or certificates of deposit?Yes. Loans secured by certificates of deposit have a fixed margin of 3% over the current certificate rate. Cash-secured loans have an interest rate determined by our underwriting process. May I add a guarantor to my lending request?Guarantors may be added, but the guarantor must be a member of Navy Federal. How long does it take to make a decision on my loan request?Once all the required information has been submitted, it can take up to 5 business days to review and approve or decline most lending requests. What is an aging report?An aging report is a list of debts owed to a company by its customers (A/R) or a list of debts owed from a company to its vendors (A/P), and how long it has been since the invoice was generated but still unpaid. Aging reports can provide insight into a company’s cash flow situation. What is a rent roll?A rent roll is a list of a property’s current tenants and how much they pay in rent. It can include additional information, such as expenses paid by tenants, utilities and lease lengths. At any time during the year, must the balance of the business line of credit be at zero?There may be an annual clean-up period that requires the loan’s outstanding principal to be $0 for a period of no less than 30 days. Your business lending officer can provide additional details. What is a Purchase/Buyer's Order for a vehicle loan?A Purchase or Buyer’s Order is a contract containing terms upon which the buyer and seller have agreed. It contains the price of the vehicle, information about the buyer and the dealership selling the vehicle, and other related information. This must be signed by both the buyer and seller. What is a Bill of Sale for a vehicle loan?A Bill of Sale is a document that verifies the vehicle is being sold and provides information about the vehicle and the terms of the sale. It must include the date of the sale, vehicle year, make and model, VIN, and current mileage. This must be signed by both the buyer and seller. What is a Sales Contract for a vehicle loan?A Sales Contract is a contract that verifies the vehicle is being sold and provides information about the vehicle and terms of the sale. It must include the date of the sale, vehicle year, make and model, VIN, and current mileage. This must be signed by both the buyer and seller. Will insurance be required if approved for a vehicle loan?Yes, proof of vehicle insurance will be required prior to closing on the loan. The proof of insurance must show the vehicle is insured in the business name with Navy Federal Credit Union as Loss Payee. The address that must be used for Navy Federal Credit Union is: 5550 Heritage Oaks Lane, Pensacola, FL 32526. Will insurance be required if my secured term loan is approved?All approved vehicle loans require proof of insurance with a deductible that doesn’t exceed $1,000. For approved term loans secured by collateral other than a vehicle, insurance will be required for loans exceeding $35,000. The type of insurance will vary, and instructions on insurance requirements will be provided during the closing process. What is a UCC filing, and when is it required?A Uniform Commercial Code (UCC) lien filing, or UCC filing, is a lien lenders file to stake a claim in a borrower’s assets in the event of default. What is collateral, and why is it required for business loans and lines of credit?Many lenders may require collateral to secure a business loan or line of credit. It reduces a lender's risk and can motivate borrowers to repay their loans. It's usually an asset or assets that can be sold to pay on the loan if you should default. Some examples are:
In addition, some business owners choose to use their personal homes as business collateral. What is business access number Navy Federal?Call us at 1-877-418-1462 within the next 2 business days after completing all the Step 2 requirements for a review of your pre-application and to submit all required documents. Representatives are available Monday through Friday, 9 am to 5 pm, ET.
How do I view my Navy Federal statements?Click on “My Settings” in Account Access, then select the “Statement Delivery” link. Receive special offers and important updates about your accounts, and contact us directly through Messaging. Just click on “Messages” in Account Access. Apps Get insight into your finances at home or on the go.
How do I find my username and password for Navy Federal?From the Online Banking sign-in screen, select "Forgot Username" under the Username field to reset your Mobile and Online account.
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Navy federal credit union business account login
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