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Founders Flash: Tech companies ramp up loan offerings to small businesses

The Flash knows that certain companies already know the daily revenue intake of a huge swath of small businesses. So….why not get into the lending business? That’s just what Intuit, among others, is moving to do. Last week, the maker of TurboTax announced a partnership with online lender OnDeck Capital to create a $100 million fund to provide loans to small businesses (particularly to those small businesses that are using its accounting software). With small business lending still well below pre-recession levels, this could help startup and other early-stage financing efforts.

Founders Flash

Some highlights from this week’s news