Business of Fintech, Member Exclusive

How Intuit’s core mission enabled it to deploy $1 billion in PPP loans to its customers

  • When COVID-19 hit, Intuit marshalled massive resources to service its customers.
  • Within 11 days, it built a PPP app which ended up delivering over $1 billion in government assistance.
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How Intuit’s core mission enabled it to deploy $1 billion in PPP loans to its customers

When COVID hit, companies went scrambling. Customers needed a lot of help and employees were scared and needed to shift to working from home. That stress and change is enought to break a company. Intuit’s core mission enabled it to stay the course and marshall resources from across the company to help its small business customers.

“We’re all these employees, stuck at home, with our families,” said Luke Voiles, vp, business leader, QuickBooks Capital at Intuit at Tearsheet’s inaugural Resilience Conference held in July. “We’re trying to make work work and trying to save these small businesses at the same time.”

Small businesses were suffering and QuickBooks Capital quickly tightened the spigot on its own underwriting business to focus on helping its customers access government assistance. When the magnitude of the crisis became clearer, Intuit’s ethos helped align employees from around the company to lean in and start helping customers around the Payroll Protection Program.

 


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