Maximum loans available to small businesses through the QuickBooks Capital have been raised to $100,000 for 12-month terms. Luke Voiles, director of QuickBooks Capital, said in prepared statement the unit has loaned out $140 million in a year.
A majority of QB Capital customers have $500,000 or less in annual revenue and an average of 2.9 full-time employees. Microbusinesses, or businesses with fewer than four full-time employees represented 78 percent of participating businesses. More than 65 percent were in business for less than five years and 28 percent were in rural areas.
Intuit also noted QB Online customers can access business credit score and credit reports for free through partnership with Dun & Bradstreet.