Square Capital grows 36% in Q1

[VanKalkerFarms]

Square's Q1 earnings report was just released and Square Capital loans grew again up 36% year over year.  The past 90 days saw $528 million dollars loaned to 78,000 businesses.  That's $5,866,000 in Square Capital loans a day on average, a staggering amount being offered, and 866 business getting a loan every day on average.  This is encouraging news for those that are looking for small business loans that Square is expanding this category of their business at a very fast rate.  Just a few years ago this type of loan wasn't even an option and now it is able to help lots of small businesses expanded that wouldn't be able to get a conventional loan.  Since inception Square Capital has loaned over 800,000 loans totaling more than 5 Billion dollars.

Congratulations to all who were extended loans and were able to expand their business or buy more inventory etc.  

[VanKalkerFarms]

Congratulations to all who were extended loans and were able to expand their business or buy more inventory etc.  

[GlassJudy]

Thanks for keeping us up-to-date on this, @VanKalkerFarms.  You know how many posts there are by people wondering if Square is still offering loans, and this data helps answer those people.

[PargatziEmb]

Thanks for the information.  My loan paid for new equipment and has helped broaden my services.