In a recent article, it was announced that Intuit Inc. is partnering with Fundbox to launch a new product that gives small business owners a simple way to fix their cash flow by advancing payments for their outstanding invoices within QuickBooks.
The article states “by leveraging QuickBooks data and not requiring a credit check or any paperwork, this new solution delivers faster financing, lowers costs, and puts more money directly in the hands of small businesses.”
The article quotes “Intuit data shows that 60 percent of QuickBooks customers have been denied loans for reasons such as low FICO credit scores. By contrast, targeted campaigns on the QuickBooks Financing platform have seen a 70 percent acceptance rate. To date, small businesses have secured more than $260 million in credit through QuickBooks Financing.”
At United Capital Source, we understand budget projections and monitoring cashflow is very important. Our approach is to ensure our clients provide up 3 months of bank statements and our team of financial lenders take time to speak individually so you can avoid traps in online lending from software and online marketplaces.