Cash is the lifeblood of small businesses and entrepreneurs. In fact, a report by the Small Business Administration found that insufficient or delayed financing is the second most-common reason for businesses to fail. Whether it’s due to seasonality or unpredictable customer demand, it can be tough to access the cash you need, when you need it. To help solve this problem, we’re announcing a partnership with AMEX Working Capital that will give you more access to quick capital and can help you better manage your cash flow.
This newest addition to QuickBooks Financing, a platform within QuickBooks that can help you receive financing, integrates AMEX Working Capital with QuickBooks Online. It uses your QuickBooks data to help demonstrate your credit worthiness, streamline the application process, and significantly shorten the loan processing time – usually from a week to as little as one business day. On QuickBooks Financing you can apply for a wide variety of credit offerings including, short and long term loans, lines of credit, invoice financing and Small Business Administration loans.
Access short-term loans directly from within QuickBooks Online
If you need a short-term loan to pay a vendor or you want to invest in new growth opportunities, AMEX Working Capital will provide a short-term loan from directly within QuickBooks Online. Upon payment, American Express will seamlessly integrate data with QuickBooks to automatically reconcile accounting ledgers throughout each phase – providing up-to-date cash flow insights for your business.
Working Capital Terms can approve a loan in as little as sixty seconds for qualified existing American Express OPEN Card Members. If you are approved, you can receive loans between $1,000 and $750,000. One single fee is associated with each loan term, including: 30-day: 0.5 percent; 60-day: 1.0 percent; 90-day: 1.5 percent.
“We believe this is a game changer for small businesses looking for financing,” said Karen Peacock, senior vice president of small business at Intuit. “It can help bridge the gap between money in and out, and ultimately help your business grow and thrive.”
Tell us in the comments how you could use a little extra cash for your small business.