Machine learning means you should now see QuickBooks Capital first, for the best small business loans

Machine learning means you should now see QuickBooks Capital first, for the best small business loans.

Machine learning means Intuit’s QuickBooks Capital should now be the best small business loan company. It will have very fast access to loans up to $35,000, payable in three to six months. It also will far more convenient for users (or CPAs) to apply for loans from inside of QuickBooks, with no long loan forms.

I wrote about having lenders use QuickBooks data, to help decide on small business loans, more than 10 years ago. However, QuickBooks Capital not only now uses this data, but now users machine learning (like Artificial Intelligence) to analyze up-to-the-minute QuickBooks Online data. This should make QuickBooks Capital completely unlike other bank or loan companies. Moreover, as good as the machine learning program is today, it will keep analyzing data, for better insights and decisions.

The head of QuickBooks Capital told CNBC that Capital uses machine learning, on complete sets of QuickBooks (Online) data, to demonstrate credit-worthiness. “For example, we give small businesses the ability to get credit for future profits by looking at things such as open invoices. Using machine learning, we’re able to predict when those invoices are likely to be paid, thereby providing an extremely detailed picture of a business’ cash flow.” WOW!

CPAs often work hard to create and explain Cash Flow Statements. QuickBooks Capital should now create and test many reports, with no wasted time, no wasted paper and no data downloads. This is one more reason why QuickBooks Desktop deserves its 900,000 users and shrinking sales, while the 2.4 million QuickBooks Online users are growing more than 50% a year.

It also is why machine learning means you should now see QuickBooks Capital first, for the best small business loans.

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