Intuit’s QuickBooks Capital: Here’s Everything You Need to Know
Accounting software firm giant, Intuit has finally launched the much-awaited QuickBooks Capital. QuickBooks Capital will facilitate small businesses with easy loans. QuickBooks users can now get a business loan up to $35,000 for 6 months from their QuickBooks software.
It is important to note that Intuit is lending its own money to small businesses via QuickBooks Capital to small businesses and it will not connect a QuickBooks user to any bank or private lender.
Intuit’s QuickBooks Capital is powered by machine learning and Artificial Intelligence (AI). Through the machine learning and AI, Intuit will crunch different data, such as pending invoices, creditworthiness and offer loans accordingly. There are around 2.4 million QuickBooks users who can benefit from QuickBooks Capital.
Speaking at the launch event, Intuit’s head of QuickBooks Capital Rania Succar said that they have a history of working with their clients and now they are exploring other models by investing their own money.
Ease of Business Capital Lending
At the launch event, Intuit’s top officials explained also explained how QuickBooks Capital will ease small business lending.
QuickBooks Data for Loan Approval
Now, small businesses will not need to submit any additional documents to get loan approval. Their QuickBooks data will be enough to assess their loan eligibility and other criteria for getting a loan.
Transparent Application Process
Loan application through QuickBooks Capital is embedded within QuickBooks, which means that businesses can easily check the entire loan application process.
New Opportunities for Growth
Getting business capital to maintain adequate cash flow is a prerequisite for small businesses. However, many a time, businesses face a cash crunch. New QuickBooks Capital, however, assure that you get the right amount of capital anytime you need.
Prior to the launch of QuickBooks Capital, Intuit went through few trials and experiments, and results were amazing.
Amazing Results of QuickBooks Capital During the Trial
Intuit invited hundreds of small businesses and asked them to use QuickBooks Capital in their private beta. After the use of QuickBooks Capital, small businesses found QuickBooks Capital to be amazing and loaded with significant advantages.
Let’s see what small businesses experienced after using QuickBooks Capital
Underserved Businesses to Get Easy Loans
Around 60 percent small business firms said that now it’s easy for them to get easy loans with QuickBooks Capital.
Prior the use of QuickBooks Capital, 46 percent small businesses said that borrowing business capital will not a hassle any longer.
After the trial of QuickBooks Capital, 99 percent small users said they found QuickBooks Capital extremely convenient to use and have achieved optimal user satisfaction.
Intuit’s QuickBooks Capital will for sure give stiff competition to tech lending providers, such as Amazon. QuickBooks Capital will also bring a huge disruption in the way business lending has been traditionally done by the banking sector.
- Microsoft Sharepoint2018.03.30How to Select the Best between SharePoint Server and SharePoint Online
- SharePoint Hosting2018.03.22Avoid SharePoint Compliance Risk by implementing a Robust Information Governance Plan
- Dedicated Hosting2018.03.20Guide to Selecting the Best between Office 365 Hosting and Hosted Exchange
- QuickBooks2018.03.07Boost Up Your Accounting Performance with Managed QuickBooks Support Services