MCAs Mentioned on SoFi’s Website

Ever since SoFi launched a business loan marketplace last year, it has not been spoken about at length in its quarterly reports. It did not come up at all in its Q4 earnings call yesterday, for example. What is known is that it refers business owners to other sources for lines of credit, equipment financing, and more. However, there’s also an MCA screen on the scrolling window where it asks people to apply.

SoFi is notable in that it’s a bank, which is why it’s worth mentioning this at all. “Since acquiring our bank license in 2022, we’ve grown our deposits to $26 billion by iterating, learning, and iterating to make our product, marketing, and service better every day,” the company said yesterday.