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Intuit Originated $232M in Small Business Loans in Fiscal Year 2021

IntuitIntuit, the producer of QuickBooks and owner of Credit Karma, originated $232M in small business loans for the fiscal year of 2021 that ended on July 31. That was slightly below fiscal year 2020’s $243M and down significantly from 2019’s $316M. Cumulatively, however, the company has originated approximately $928M since the company started lending at the end of 2017.

QuickBooks Capital requires that business owners have their bank accounts connected to QuickBooks and that applicants have revenue of at least $50,000 over the past 12 months. An online tool estimates that businesses will pay anywhere from 9.99% APR to 34% APR.

Intuit completed its acquisition of Credit Karma at the end of last year. Credit Karma generated a quarterly record revenue of $405 million.

Last modified: August 30, 2021

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