Square Loans (Formerly Square Capital) Originated $627M in Small Business Loans in Q2

| By:


Square in San FranciscoSquare Loans, the lending arm of the fintech bank Square, originated $627M of its Flex Loans in Q2, according to the company’s latest announcement. That brings the year-to-date total to $1.02B across 167,000 loans. The numbers produce a rough average of only $6,000 per loan.

“After pausing flex loan offers from early March to late July of 2020, we continued to expand loan offers during the second quarter behind improvements in underlying Seller GPV trends, nearing pre-pandemic quarterly origination levels for core flex loans,” the company said.

Square is on pace to meet or eclipse its pre-covid volume. (It originated $2.3B in 2019.)

Square touted much bigger news in the past few days, however, its planned acquisition of Australia-based Afterpay in a $29B all stock deal.

Last modified: August 4, 2021

Category: Business Lending, Uncategorized

Home Business Lending, Uncategorized › Square Loans (Formerly Square Capital) Originated $627M in Small Business Loans in Q2


    CapFront

    Highland Hill Capital

    Liquidibee

    Vox Funding

    Total Merchant Resources

    Wynwood Capital Group

    The Smarter Merchant

    Unique Funding Solutions

    Torro

    Big Think Capital

    Cashyew

    South End Capital

    Better Accounting Solutions

    Hunter Caroline

    Smart Business Funding

    BCCUSA

    Fox Business Funding

    Fresh Funding

    Cloudsquare

    Main Street Finance Group

    BizFund

    ROK Financial

    Symplifi Capital

    Spartan Capital

    ByzFunder

    Splash Advance

    Velocity Capital Group