Intuit Inc., the maker of tax-preparation and accounting software, will start lending directly to smaller businesses as it becomes the latest tech company to offer credit to firms.
The roughly 7 million businesses that use Intuit’s QuickBooks accounting software may be eligible to borrow up to $35,000 for as long as six months, the Mountain View, California-based company said Tuesday. Annualized interest rates would range from 6 to 18 percent, and loans would be available to borrowers in 43 states, said Rania Succar, head of the QuickBooks Capital unit and a former Google advertising executive.