Enova Originated $679M in Small Business Loans in Q2
Enova announced another strong quarter on Thursday. Net income for the second quarter was $52M.
Business lending originations were up, increasing 3% quarter over quarter to $679M. During the earnings call, Enova CEO David Fisher spoke glowingly about the company’s marketing capabilities and overall loan growth.
“We are pleased to report continued strong loan growth and solid credit metrics across our portfolio,” he said. “We have successfully demonstrated our ability to quickly adapt to changes, including shifting macro-economic conditions. We continue to see strength in consumers and small businesses as high employment and rising wages provides an ideal backdrop for solid credit performance. Looking forward, we are confident that our highly flexible, online-only business model and well-diversified portfolio positions us well to continue to drive profitable growth while also effectively managing risk.”Last modified: July 28, 2022