Search Results for 'square'
Square is expected to apply for an Industrial Loan Company (ILC) bank charter this week, according to American Banker and other sources. Like SoFi, who is busy trying to do the same thing, their attempt will also face competitive resistance. In June, Richard Hunt, president and CEO of the Consumer Bankers Association (CBA), told deBanked […]View Post
Yirendai, an online lender in China listed on the NYSE, is up 92% this year, according to the deBanked Tracker. China is reported to be the largest marketplace lending market in the world. Yirendai went public in December 2015 at the peak of the online lending bubble and the stock price has tripled since then. […]View Post
Square’s small business lending arm, Square Capital, issued 49,000 business loans for a total of $318 million in Q2, according to their earnings report. That’s a quarter-over-quarter increase of 26.7% and slightly more than half the loan volume that their rival OnDeck originated in Q1. That statistic is significant because Square is a payment processor […]
Ladies love brunch #sundays #englewood #food #fun #family #southerncomfort #soulfusion #elevatedofferings #burn&bake #chef #baker #brunch #byob #dessert #picoftheday #chefdanielle #letsgo #letsgo A post shared by Mr. Tod (@mrtodspies) on Jul 31, 2016 at 7:08pm PDT Tod Wilson, founder of Mr. Tod’s Pie Factory in Englewood, N.J., is a Square Capital chief evangelist. Mr. Tod not […]
Square is making the leap from business loans to consumer loans, according to the WSJ. The company, which already makes loans to its payment processing clients, will now begin offering loans to the customers of those clients. The WSJ reports that the loans will be available in six states including California, New York and Florida. […]
It was another big quarter for Square Capital, who originated more than 40,000 business loans for a total of $251 million. That’s an increase of 64% year-over-year but only up 1.2% from the previous quarter. The company had $51 million in loans held for sale on their balance sheet as of March 31st. Overall, Square, […]
Square Capital Made More Loans, Maintained Default Percentage, Continued to Show Why They’re A Tough Competitor in Fintech Loan MarketFebruary 22, 2017
Square has continued to set itself apart in the fintech lending space. The company announced Wednesday that Square Capital had facilitated 40,000 business loans for a total of $248 million in the fourth quarter of 2016. And they did that while holding their default rate at 4%. A look at their recent loan volume compared […]
Square Capital grew 70 percent annually, extending $208 million in 35,000 loans. With this, it has originated over $1 billion in two years, through this program.
Square CEO Jack Dorsey as he walked on stage at the 2016 Money2020 conference in Las Vegas It’s not about replacing banks, it’s about making financial services more accessible, said Square CEO Jack Dorsey in regards to what his company and others in the fintech space are doing. During his fireside chat-style address at Money2020, […]
As a merchant, Square has marketed their Square Capital program to me before. But this is the first time I’ve received direct mail marketing from them. Here’s a snapshot of what that looks like: To view the potential offers, merchants are directed to log in to their Square accounts where they will see multiple terms. […]