The QuickBooks Capital enabled Paycheck Protection Program loan application process supports certain single-owner businesses and multi-owner businesses, as well as certain self-employed individuals. QuickBooks Capital is not able to process applications from Schedule C filers who have employees, seasonal businesses, or recipients of an EIDL loan between January 31, 2020, and April 3, 2020. QuickBooks Capital does not support users located in AK, NV, nor the U.S. Territories.
Given the large demand for limited SBA authorized funding, not every qualified Paycheck Protection Program applicant will receive a loan.
Paycheck Protection Program (PPP) loans offered within QuickBooks Capital may be made by Intuit Financing Inc. (d/b/a QuickBooks Capital) or by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC.
QuickBooks Capital is a service offered by Intuit Financing Inc. (NMLS # 1136148), a subsidiary of Intuit Inc. Intuit Financing Inc., (d/b/a QuickBooks Capital) is an authorized SBA Paycheck Protection Program Lender. Loans are made or arranged by Intuit Financing Inc. (AK #10000990, CA #6054856, D.C. #ML1136148, FL #CF9901279, MD #03-2339, MN #MN-RL-1136148, NM #1899, ND #MB102690, RI #20183584SL and #20183583LL, SD #MYL.3279,TN #166418, VM #7194, VT #7194 and #7195)
Regulations and guidance from the SBA and the U.S. Department of the Treasury on the PPP are evolving rapidly and the above information may be outdated. Please refer to the latest guidance from SBA and Treasury to confirm current program rules and how they apply to your particular situation.The resources described above are made available to businesses within the United States of America.
This content is for information purposes only and should not be considered legal, accounting or tax advice, or a substitute for obtaining such advice specific to your business. Additional information and exceptions may apply. Applicable laws may vary by state or locality. No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. Intuit Inc. and Intuit Financial Inc. (d/b/a QuickBooks Capital) do not have any responsibility for updating or revising any information presented herein. Accordingly, the information provided should not be relied upon as a substitute for independent research. Intuit Inc. and Intuit Financial Inc. (d/b/a QuickBooks Capital) do not warrant that the material contained herein will continue to be accurate, nor that it is completely free of errors when published. Readers should verify statements before relying on them.
The use of the PPP loan proceeds listed above pertain to the forgivable amount of a PPP loan, and are not the only allowable uses of a PPP loan.
For additional information about PPP loan forgiveness, please refer to this article.