Increase cash flow with QuickBooks Line of Credit

Learn more about QuickBooks Line of Credit to access invoiced funds faster! 

Waiting weeks for invoice payments can restrict your cash flow. QuickBooks Line of Credit was made to help small businesses receive an invoice advance on their invoices (instead of waiting on net terms).

QuickBooks Line of Credit: What you need to know

Get funds on your invoices early through QuickBooks Line of Credit with QuickBooks Payments. Waiting weeks for invoice payments can be a problem because it limits your cash flow. With a QuickBooks Line of Credit credit limit, you can access invoice advances and get funds as fast as 1-2 business days* instead of waiting on net terms.

QuickBooks Line of Credit eligibility

You must have an active QuickBooks subscription and be a QuickBooks Payments customer to use QuickBooks Line of Credit.

There are many factors that determine if your business is eligible for QuickBooks Line of Credit. A few examples are your QuickBooks business history, transactions in business bank accounts, invoice history, business credit profile, and as the personal guarantor, your personal credit profile.

Get started with QuickBooks Line of Credit

Sign in to your QuickBooks account and go to Invoices and then select QuickBooks Line of Credit. When you choose to fund an invoice for the first time, you’ll fill out an application to see if you’re approved. You can also apply without an invoice. If you are approved and accept the terms, the QuickBooks Line of Credit advance will be disbursed to you in as fast as 1–2 business days* of acceptance. You’ll be assigned a total credit limit to use to fund other eligible invoices.

The application process doesn't affect your personal credit score.

Because every business is unique, each application is considered individually, and decisions are based on your credit risk profile, current guidelines, and applicable laws. Terms and credit limits may change over time.

We can modify or revoke your offer at any time, for any reason. These reasons can include, but aren’t limited to, if something changes with your business or personal credit profile, irregularities with your business or identity, or if you cancel or suspend your QuickBooks Payments account.

How QuickBooks Line of Credit works

For invoices that qualify, here’s the process:

1. When you send an invoice, you can choose to get it funded early. Go to Invoices, and select QuickBooks Line of Credit to see your eligible invoices. Then select Get it funded.
2. The invoice amount, minus any upfront fee (up to 3%, as detailed in your loan agreement), will be deposited into the business bank account you have provided in your application, after you’ve been approved for, and accepted the offer. The money should appear in your account within 1–2 business days* of acceptance. We'll deduct the invoice total from your assigned credit limit to determine your remaining available credit, which you can use to fund additional eligible invoices.
3. Your advance is interest-free for the first 30 days. If your customer pays their invoice through QuickBooks Payments during the first 30 days, those payments are applied automatically to your QuickBooks Line of Credit balance.¹ You won't be charged any QuickBooks Payments processing fees for these customer payments.
4. If you don't repay the invoice within 30 days, you'll start accruing interest on the outstanding balance on day 31. You can repay the total invoice amount in 12 monthly installments at a fixed interest rate (per your loan agreement). The first monthly installment is due 60 days after your advance is disbursed.

Invoice qualifications

QuickBooks Line of Credit lets you fund multiple eligible invoices that meet certain criteria, for example:

• You sent the invoice through QuickBooks
• You have enough available credit remaining
• The invoice total is $258 or more
• The invoice isn't more than 30 days past due

Each advance is treated and documented as a separate loan according to its own unique terms.

Why overall credit limits and interest rates on each financed invoice can change

Credit limits and interest rates for QuickBooks Line of Credit may be affected by things like:

• Business performance
• Repayment history
• Credit usage
• Various other factors

Credit limits and interest rates are subject to change based on various credit factors and  market conditions.  The interest rate is set when you select an invoice to finance. This means the interest rate can change for each financed invoice.

• ¹ If your credit limit increases, it means you’re generally doing great at continually meeting our credit requirements. This lets you take advantage of more invoice advances, if you need them.
• ¹ With a credit limit decrease, focus on things like building a better track record. Repaying QuickBooks Line of Credit loans on time may increase the chance of getting  a higher credit limit in the future.

Connect all your business bank accounts to QuickBooks so you can get more tailored offer(s) for QuickBooks Line of Credit advances.

QuickBooks Line of Credit and your customers

QuickBooks Line of Credit lets you keep a direct relationship with your customers and doesn't interfere with your customer relationships.  They  won't even know you use it.

How to repay QuickBooks Line of Credit

You have 30 days from disbursement (the day the advance was issued) to pay the invoice amount in full before it begins to accrue interest.

When your customer pays their invoice through QuickBooks Payments during the first 30 days, the payment will be automatically applied to your QuickBooks Line of Credit balance.² There won't be any payment processing fees for these customer payments.

If you can't repay the full financed invoice amount within the first 30 days, you can take advantage of autopay to repay the loan. Each month, the pre-authorized monthly repayment amount will be debited from the same business bank account where your upfront advance was sent.

You can also make manual payments. Sign in to your QuickBooks account and go to Invoices and then select QuickBooks Line of Credit. You can view, manage, and repay your upfront advances.

There are no prepayment penalties if you prepay your loan in full or in part.

Your loan transaction history with QuickBooks, which includes failure to repay on time, may be reported to Experian Small Business Credit Share and Dun & Bradstreet.  

Each QuickBooks Line of Credit loan requires a personal guarantee. The personal guarantor  may have to repay the loan in full, in the event the business is unable to. This is common for many small business loans.

² This feature isn’t available for customer invoice payments made through GoPayment, Pay links, or QuickBooks Online Receive Payment experience.

Delinquent loans

We reserve the right to revoke or limit access to your credit limit if one or more of your loans become delinquent. 

To restore access to your credit limit, you must pay the past due amount.  Once you make the payment, it can take up to 3 business days before you can use QuickBooks Line of Credit again. 

Change payment methods or additional questions

To change your payment method, call 877-223-4710, Monday–Friday, 6:00 AM to 3:00 PM, PT. You can choose to pay with a check, money order, or wire transfer. Note the disbursement date of your loan for easy reference.

You can also send payments by check.  For regular mail, use this address: Intuit Financing Inc., P.O. Box 842978, Dallas, TX 75284-2978. For express or overnight delivery, use this address: Bank of America Lockbox Services Infomart, Lockbox 842978, 1950 N. Stemmons Fwy., Suite 5010, Dallas, TX 75207.

Note: We consider  payments received after 4:30 PM Pacific Time (PT) on weekdays   to be made on the next business day.

If you have additional questions about QuickBooks Line of Credit, call us at 877-223- 4710 or email Servicing@intuit.com.

QuickBooks Line of Credit loans are issued by WebBank.

* Funding times may vary due to third party delays