"

Estimated reading time: 0 minutes, 48 seconds

Intuit Starts $100M Small Biz Loan Fund

Brad Smith, IntuitIntuit has launched a $100-million fund in partnership with OnDeck. The software company had been testing a loan program for small businesses, utilizing data from QuickBooks software to help customers improve their chances of obtaining loan approval. Interest rates on the new funds will range from 8.9 percent to 19.9 percent and will be funded in as little time as one business day.

The fund will be utilized as part of QuickBooks Financing Line of Credit.
Intuit says the application can be quickly completed because of integration between QuickBooks and OnDeck, which has been a source of capital for the program since 2013. Intuit says the application can be quickly completed because of integration between QuickBooks and OnDeck, which has been a source of capital for the program since 2013.

A year ago, CEO Brad Smith said Intuit was matching small businesses with lenders and had secured 70-percent acceptance that brought $45 million in loan commitments. Intuit is utilizing QuickBooks data to help demonstrate credit worthiness of applicants
'

Read 3837 times
Rate this item
(0 votes)

Visit other PMG Sites:

Template Settings

Color

For each color, the params below will give default values
Tomato Green Blue Cyan Dark_Red Dark_Blue

Body

Background Color
Text Color

Header

Background Color

Footer

Select menu
Google Font
Body Font-size
Body Font-family
Direction
PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.