Search Results for 'square'

Square Wants to Become a Bank

September 6, 2017
Article by:

Jackie Reses Square Capital

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 […]

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As Summer Winds Down, Square, Bitcoin, Yirendai Big Winners of the Year So Far

August 30, 2017
Article by:

summer is over

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. […]

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Square Capital Funded $318M in Q2

August 3, 2017
Article by:

Square IPO

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 […]

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Easy as Pie? Square Reaches For a Slice of the Consumer Lending Market

June 30, 2017
Article by:

square transaction

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 […]

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Square to Expand Beyond Business Loans to Consumer Loans

June 27, 2017
Article by:

Jackie Reses Square Capital

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. […]

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Square Lent $251 Million to Small Businesses in Q1

May 4, 2017
Article by:

Square IPO

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, […]

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Square Capital Made More Loans, Maintained Default Percentage, Continued to Show Why They’re A Tough Competitor in Fintech Loan Market

February 22, 2017
Article by:

Square IPO

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 […]

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Square Beats Revenue Estimates with $439 Million; Lending Business Grows 70%

November 2, 2016
Article by:

Square's Jack Dorsey

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.

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It’s Not About Replacing Banks, Square CEO Says

October 30, 2016
Article by:

Jack Dorsey at the 2016 Money2020 Conference in Las Vegas

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, […]

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A Glimpse into Square Capital’s Marketing

October 20, 2016
Article by:

Square Capital

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. […]

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