Square Capital Originated $528M in Loans in Q2
August 5, 2019 | By: deBanked Staff
Square Capital facilitated 78,000 loans for $528M last quarter, according to their recent earnings report, an increase of 36% year-over-year. Thr growth is the exact percentage increase experienced by rival Shopify.
Square says that they continued to see an average loss rate of less than 4% for their core Flex Loan product.
deBanked ranked Square Capital as the 4th largest alternative small business finance company of 2018. The company loaned $1.6B last year. PayPal was #1 at more than $4B. Shopify Capital is on pace to do more than $2B this year.Last modified: August 5, 2019