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Intuit will offer loans to small businesses using QuickBooks

Nov. 07, 2017 2:50 PM ETIntuit Inc. (INTU) StockINTUBy: Brandy Betz, SA News Editor
  • Intuit (NASDAQ:INTU) will start offering loans directly to the 7M small businesses using the company’s QuickBooks software.
  • Businesses can borrow as much as $35K for up to six months with annualized interest rates between 6% and 18%. 
  • Amazon already offers loans to businesses using its platform and Facebook and Google plan to offer similar programs in the future.
  • Intuit hasn’t revealed the amount of capital it plans to offer. 
  • Intuit shares are down 0.53%.   
  • Previously: Intuit will acquire cloud SaaS company (Oct. 26)

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