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