Intuit Originated $933M in Small Business Loans in FY 2022
Intuit, the software company often associated with Quickbooks, originated an astounding $933M in small business loans in its fiscal year 2022. That’s up substantially from the $232M it originated in FY 2021.
It’s important to note that the company’s fiscal year 2022 ended on July 31, 2022 which means more data exists beyond that time. From Aug 1, 2022 – October 31, 2022, the company originated $314M in business loans. In the quarter that followed (Nov 1, 2022 – Jan 31, 2023), Intuit renamed the easily identifiable line item from “originations and purchases of term loans to small businesses” to “originations and purchases of loans” which may bear some significance given that it indicates a steep increase to $701M for that quarter, a record for Intuit by far. If that was entirely business loans then it would place Intuit amongst the largest small business lenders in the country.Last modified: April 5, 2023