Using Big Data and Machine Learning to Improve Small Business Lending
Small Business Labs
NOVEMBER 14, 2017
Intuit recently announced QuickBooks Capital , a new small business lending product that provides users of QuickBooks access to small business loans up to about $35,000. This new service's lending process is done algorithmically and from within QuickBooks itself. Thanks to big data and machine learning techniques, most borrowers will know whether or not they are approved for a loan in just a a few minutes. Lack of credit is consistently one of the top challenges for small businesses.
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