In response to Canada's 2025 regulatory changes, Shopify transitioned its Canadian Shopify Capital product from merchant cash advances to loans starting April 2026, while originating $1.4 billion in loans and MCAs globally during the quarter. Read more
LendingTree's Q2 performance showed signs of recovery despite a temporary slowdown in its SMB lending business due to macroeconomic factors, with leadership expressing optimism for strong future growth as merchant sentiment improves. Read more
SoFi announced a new small business loan product backed by a $3 billion agreement with BasePoint Capital and an undisclosed partner, aiming to offer more competitive rates and expand its SMB lending business, which evolved from helping members secure PPP loans during COVID. Read more
Square Loans, led by Block CEO Jack Dorsey, underwrites loans using data unavailable to traditional banks and serves sellers often overlooked by them, maintaining loss rates below 4% across all economic cycles. Their strong loan performance, supported by their large POS ecosystem, has made them a top online small business lender, with loans either retained on balance sheets or sold to third-party investors. Read more