Square Capital Originated $1.6 Billion in Business Loans Across 2018
Square (NYSE: SQ) – Square’s business lending division, Square Capital, originated more than $1.6 billion in small business loans in 2018, according to the company’s year-end earnings report. $472 million was originated in Q4 through a total of 72,000 business loans. The company could potentially surpass rival OnDeck in 2019. OnDeck originated a little under $2.5 billion for the year.
Square Capital’s loan loss rate on their flex loan product averages less than 4%. The stock fell by more than 6% in after hours trading, due to slower overall growth and weak q1 earnings guidance.
Below is the most updated business loan origination rankings, courtesy of deBanked.
Company Name | 2018 Originations | 2017 | 2016 | 2015 | 2014 | |
OnDeck | $2,484,000,000 | $2,114,663,000 | $2,400,000,000 | $1,900,000,000 | $1,200,000,000 | |
Kabbage | $2,000,000,000 | $1,500,000,000 | $1,220,000,000 | $1,000,000,000 | $400,000,000 | |
Square Capital | $1,600,000,000 | $1,177,000,000 | $798,000,000 | $400,000,000 | $100,000,000 | |
Funding Circle (USA only) | $500,000,000 | |||||
BlueVine | $500,000,000* | $200,000,000* | ||||
National Funding | $427,000,000 | $350,000,000 | $293,000,000 | |||
Kapitus | $393,000,000 | $375,000,000 | $375,000,000 | $280,000,000 | ||
BFS Capital | $300,000,000 | $300,000,000 | ||||
RapidFinance | $260,000,000 | $280,000,000 | $195,000,000 | |||
Credibly | $180,000,000 | $150,000,000 | $95,000,000 | $55,000,000 | ||
Shopify | $277,100,000 | $140,000,000 | ||||
Forward Financing | $125,000,000 | |||||
IOU Financial | $91,300,000 | $107,600,000 | $146,400,000 | $100,000,000 |
*Asterisks signify that the figure is the editor’s estimate