Skip to content
Subscriber Only

Intuit Becomes Latest Technology Company to Offer Direct Lending

  • Will rely on QuickBooks customer data to evaluate borrowers
  • Amazon also make loans as tech firms edge into finance
The Intuit Inc. TurboTax application is displayed on an Apple Inc. iPhone 6s in this arranged photograph taken in New York, U.S., on Feb. 15, 2016. The IRS began accepting 2015 individual income tax returns today and taxpayers have until Monday, April 18 to file their 2015 tax returns and pay any tax.
Photographer: Michael Nagle

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.