Quickbooks Lending

[Videogamesrock]

I use qB online and they recently have a new lending function I've noticed.  They look through your QB and pull DNB to give lines up to 100k.  There is a soft pull on personal and they report to Experian.  Interest rates as low as 3.8%.

[NYCdude27]

On 1/7/2019 at 3:54 PM, Videogamesrock said:

I use qB online and they recently have a new lending function I've noticed.  They look through your QB and pull DNB to give lines up to 100k.  There is a soft pull on personal and they report to Experian.  Interest rates as low as 3.8%.

Cool... Did they make you an offer?

[Videogamesrock]

I have not applied. Some F tard at DNB wiped out our entire profile because he couldn’t find our company on a random SOS website and did a google search for our company name to find our phone number. The random number google gave him was disconnected.  So now I’m waiting for DNB to restore everything. I will report back once I apply. Documentation galore. 

[Videogamesrock]

DNB restored my profile.

 

QB approved me for $15,000 with a six-month payback period. The current credit score is 660 with about 12-accounts showing on my DNB. 

 

I was told that as I build a history the credit lines with QB can be larger and for longer terms.  

 

I also was approved for $5500 through Amazon today.  

[NYCdude27]

On 1/14/2019 at 3:33 PM, Videogamesrock said:

DNB restored my profile.

 

QB approved me for $15,000 with a six-month payback period. The current credit score is 660 with about 12-accounts showing on my DNB. 

 

I was told that as I build a history the credit lines with QB can be larger and for longer terms.  

 

I also was approved for $5500 through Amazon today.  

That's great... did QB pull a Hard on your personal reports?  What kind of rate did they give you?

[Videogamesrock]

I don’t see any inquiry on my credit report. The interest rate is 4% over six months with an 18% APR. 

[JayH33]

On 1/18/2019 at 2:04 PM, NYCdude27 said:

That's great... did QB pull a Hard on your personal reports?  What kind of rate did they give you?

 

On 1/18/2019 at 3:38 PM, Videogamesrock said:

I don’t see any inquiry on my credit report. The interest rate is 4% over six months with an 18% APR. 

They 100% DO NOT pull hard inquiries. I have had multiple loans with QB Intuit and the highest is now $54K with a year payback on a monthly schedule. Payments are like $4955.04  a month. 

 

They used to only offer 6 month terms, but recently bumped them up to a year. They don’t offer every customer their loan program. They invite you inside the software. You have to use the software consistently and adequately. You also have to have your bank account connected to it. That’s how they check your revenues against your input in the software. 

 

Also, if you have multiple businesses, and multiple subscriptions to their software, you can get multiple loans. 

 

Interest rate is like 4-8%, and the APR is like 18%. They don’t charge any origination or junk fees. And they deposit funds directly to your checking account that’s connected. 

 

They give you your free DNB credit score, but they say that they don’t use it to make a credit decision. I think they do, but I know for sure that they look at your BUSINESS EXPERIAN REPORT. You have to keep that one clean, because they will deny you if not. 

Edited June 22 by JayH33

[NYCdude27]

On 6/22/2019 at 8:44 AM, JayH33 said:

 

They 100% DO NOT pull hard inquiries. I have had multiple loans with QB Intuit and the highest is now $54K with a year payback on a monthly schedule. Payments are like $4955.04  a month. 

 

They used to only offer 6 month terms, but recently bumped them up to a year. They don’t offer every customer their loan program. They invite you inside the software. You have to use the software consistently and adequately. You also have to have your bank account connected to it. That’s how they check your revenues against your input in the software. 

 

Also, if you have multiple businesses, and multiple subscriptions to their software, you can get multiple loans. 

 

Interest rate is like 4-8%, and the APR is like 18%. They don’t charge any origination or junk fees. And they deposit funds directly to your checking account that’s connected. 

 

They give you your free DNB credit score, but they say that they don’t use it to make a credit decision. I think they do, but I know for sure that they look at your BUSINESS EXPERIAN REPORT. You have to keep that one clean, because they will deny you if not. 

Thanks for the Info!

 

Do they give you the option of paying back early without penalty?

 

I'm working off of a 0% purchase rate until 2020... but it would be good to have other options after that.