Intuit Introduces New Web-based Service to Help Small Business Owners Get the Money They Need
May 14, 1998
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MOUNTAIN VIEW, Calif.--(BUSINESS WIRE) via NewsEdge Corporation --
10 Leading Financial Institutions Partner with Intuit
to Provide One-Stop Shopping Convenience
Intuit Inc. (NASDAQ:INTU) today announced a partnership with 10 leading financial institutions to provide the first ever web-based service that enables one-stop shopping for small business cash needs. Whether it's applying for a business credit card, a credit line, a lease, or a loan, the new Quicken Business Cash Finder helps small business owners find the capital sources they need-quickly and easily. Users can access the Quicken Business CashFinder service through the World Wide Web at cashfinder.com.
The premier participating financial institutions include: American Express, Centura, Chase Manhattan Bank, Citibank, Colonial Pacific Leasing, Compass Bank, Crestar, KeyBank, SouthTrust Bank and Union Bank of California.
"Quicken Business CashFinder simplifies the way small businesses shop and apply for financing," said Jim Heeger, senior vice president of Intuit's small business division. "This service quickly gives the customer the information that is needed to make a smart, informed loan decision. The days of having to run around to multiple financial institutions to shop for a loan may soon be a thing of the past, thanks to new Internet services like Quicken Business CashFinder."
With more than 3.4 million small business owners applying for credit each year, Quicken Business Cash Finder automates the credit application process by walking users through three quick steps:
1. Select one or more of the credit options proposed by any of the
participating financial institutions. Customers can choose from
among more than 30 types of financial offerings in four main
categories: business lines of credit; loans; credit cards; or
leasing.
2. Download free software which allows customers to fill out
multiple application forms all at once. This process is completed
easily and safely on the individual's own PC using Intuit's
familiar on-screen question-and-answer process, the EasyStep(R)
Interview. Customers go through the EasyStep Interview only once
regardless of the number of financial services for which they are
applying at one time. This comes as a big relief to the more than
one-third of small business owners who say they find loan
application forms complicated, according to a recent survey
commissioned by Intuit. If multiple application forms are
necessary, Quicken Business CashFinder will ask all questions
only once and automatically transfer redundant information to all
applications.
3. The final step is to print out the application forms, sign, seal,
and deliver. Approval comes directly from the financial
institutions, at which point customers can compare quotes, choose
the best rate, and obtain the cash needed for their business.
Claudia DeFrance, owner of "Simply Elegant" gift store in Middletown, CT, says that in the past, shopping for loans took a lot of time. "If I wanted to compare credit products and rates, it took forever to visit or call several financial institutions. time I would have rather spend running my business."
According to a recent survey commissioned by Intuit for Quicken Business CashFinder(a), small business owners spend an average of six days shopping for a business loan. In addition, small business owners investigate at least three financial institutions before settling on the best deal. Most importantly, 41% of small business owners say they lack confidence that they really have all the information needed to obtain the best loan for their business.
(a) The survey was conducted by International Communications Research of Media, PA, which polled 300 PC-owning small business owners between February 3-6, 1998.
About Intuit
Intuit Inc., a financial software and Web-based services company, develops and markets Quicken(R), the leading personal finance software; TurboTax(R), the best-selling tax preparation software; and QuickBooks(R), the most popular small business accounting software. Intuit's Quicken.com Web site offers a complete set of personal finance news, information, and tools, including retirement planning resources and the leading mutual fund and insurance sites. Intuit's products and services enable individuals and small businesses to better manage their financial lives.
Intuit, the Intuit logo, Quicken, QuickBooks and TurboTax, among others, are registered trademarks of Intuit Inc. in the United States and other countries.
CONTACT: Press Contacts: | Jeff Larsen | Intuit Inc. | 650-944-5106 | jeff_larsen@intuit.com | or | David LaBar | MS&L | (212) 213-7062 | dlabar@mslpr.com
[Copyright 1998, Business Wire]
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