Enova Originated $1.6B in Small Business Loans in Q2

Enova’s small business loan originations increased 29% year-over-year, coming in at $1.6 billion for Q2. Enova owns OnDeck and Headway Capital.

During the Q&A session of the company’s quarterly earnings call, Enova CEO Steve Cunningham was asked about the performance of their small business loan portfolio.

“I think on the SMB side, it’s been remarkably stable,” Cunningham said. “You can see quarter-to-quarter, we can have some growth variations, but we’ve been very healthy growth. Our net charge-off ratio has been hanging within the 4%-5% range that we would expect every quarter for quite some time.”