Tech Firms Venture Into New Territory: Lending

Intuit, INTU 0.71 % PayPal PYPL -5.02 % and Square already know how much money millions of small businesses are bringing in each day. Now these tech firms are stepping up efforts to mine that data to get into the lending business.

In the latest move, Intuit Inc., the maker of TurboTax, is expected to announce Thursday that it is teaming up with online lender OnDeck Capital Inc. ONDK 3.38 % to create a $100 million fund to provide loans to users of its QuickBooks accounting software.


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