QuickBooks Capital Has Already Funded $683M in Cumulative Business Loans

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IntuitQuickBooks Capital has funded $683 million in cumulative small business loans since Intuit launched the program in late 2017. This excludes the $1.2 billion in PPP loans the company facilitated, according to the latest quarterly earnings report.

Showing optimism, Intuit recorded revenue of $1.8B in Q4 and $7.7B for the fiscal year, up 13 percent.

Among Intuit’s leading products is TurboTax, which experienced its strongest customer growth in four years. Growth was also strong with QuickBooks online payments, QuickBooks Online payroll and TSheets.

Intuit announced that it was acquiring Credit Karma for $7.1B in cash back in February.

Last modified: August 26, 2020
Kevin Travers is a Reporter at deBanked. Email me story tips at ktravers@debanked.com and connect with me on LinkedIn

Category: Business Lending


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