When QuickBooks Starts Offering You Loans

The accounting platform makes borrowing money remarkably convenient. That doesn’t mean it’s a good idea.

By Ami Kassar

Very few small business owners started their companies because they enjoy accounting. They started because they saw an opportunity, wanted independence, or simply wanted to build something meaningful.

Accounting—and accounting software—are just a necessary part of the deal. Tools like QuickBooks are supposed to be neutral infrastructure, something that works quietly in the background while owners focus on running their businesses. That’s why it caught my attention when Intuit, the company behind QuickBooks, began leaning more heavily into small business lending.

Through QuickBooks Capital and its lending partners, Intuit originated $1.3 billion in loans in a single quarter and $3.5 billion over the most recent fiscal year, nearly double the year before. That level of activity signals something important: lending is no longer a side offering. It’s a significant part of the business.

To be clear, small businesses need access to capital, and there’s nothing inherently wrong with lending. The concern is how and where these offers are being made. QuickBooks sits at the center of a business’s financial life. It sees cash flow, invoices, payroll, and taxes. When financing offers appear inside that same system, they feel less like marketing and more like guidance — even when they’re not.

I wanted to understand what this looks like from a business owner’s perspective, so I tested it myself. My company qualifies for a traditional bank line of credit at roughly 8 percent interest. We’re not desperate for capital, and we have options. When I asked QuickBooks about financing options, I was shown a very different picture:

One offer was for $100,000, repaid weekly, with an APR just under 36 percent, resulting in nearly $20,000 in interest over one year.

Another was for $250,000, also with an APR close to 36 percent, weekly payments, and more than $74,000 in interest over 18 months. If I wanted to pay it off early, I would still owe 75 percent of the remaining interest.

A third offer, also for $250,000, carried a lower headline APR of about 20 percent, but more than $130,000 in total interest, plus a $15,000 origination fee. None of these options were presented as an expensive or risky form of capital. They were framed as convenient, pre-approved, and data-driven — delivered directly inside the software I trust to run my business.

There’s a common assumption that products like these are meant only for businesses that can’t qualify for bank financing. Sometimes that’s true. But sometimes it isn’t. In my case, QuickBooks surfaced options that were two to four times more expensive than capital I already qualify for elsewhere. It made no mention of the better options I might find.

Independent lenders and advisors operate in a competitive market. They have to explain terms, justify pricing, and earn trust. QuickBooks already has the relationship, the data, and the screen in front of you. That creates an imbalance, even if the intentions are good.

Most business owners assume their financial data are being used to help them stay organized. Few realize how easily that same data can be used to trigger financing offers at exactly the moment when cash feels tight. Alternative financing offers are inherently confusing. But when those terms appear inside a trusted platform, they can feel deceptively safe. Many owners won’t take the time to shop around. They accept what’s in front of them and move on.

Trust is hard to build and easy to lose. QuickBooks became indispensable because business owners believed the company was on their side. The more it leans into selling high-cost capital through the same interface, the greater the risk to trust and ultimately the brand

If you’re a small business owner in need of capital, here’s the simple takeaway: Don’t confuse the Intuit or QuickBooks brand with a stamp of approval. If a loan shows up inside your accounting software, it doesn’t mean it’s reasonably priced or the best loan for your business. It just means it was the easiest loan to surface. Slow down. Ask questions. Compare options.

Because when it comes to obtaining capital, convenience can be costly.

Ami Kassar is CEO of MultiFunding.