Small-business fintech Nav raises $45 million

In small-business financing, banks and loan applicants often have different agendas. “Banks are looking for the highest credit quality and larger-dollar loan,” said Greg Ott, the president of Nav, the maker of a financial management app for businesses that announced a new round of venture funding Tuesday. “A small-business owner often has a less-than-perfect credit profile or a smaller-dollar need.” The Salt Lake City-based fintech, which sees itself as the Credit Karma or Rocket Mortgage of small-business lending, recently raised $44.8 million in funding to expand its lending partnerships and customer base. It has raised more $93 million in total.