Enova: $1.4B in Small Business Loans in Q3 2025

Enova continued to set a new internal quarterly record for small business loan originations with $1.4 billion in Q3.

“Since our acquisition of OnDeck five years ago, we’ve not only maintained our strong profit margins, we’ve done so while cutting our consolidated net charge-off rate in half,” said Enova CFO Steven Cunningham during the recent earnings call. Cunningham is scheduled to replace David Fisher in the CEO role this coming January.

Meanwhile, all the major indicators they review continue to show that small businesses are doing well.

“Insights from internal and external sources reflect solid underlying trends for small businesses,” said Fisher. “In conjunction with Ocrolus, we released the eighth iteration of our small business cash flow trend report earlier this week. This offers key insights into the state of small businesses and highlights ongoing trends observed over the past year. Small business confidence is high, as tariffs remain manageable and the economy, and in particular consumer spending, remained strong.”