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Square's Q1 earnings report was just released and Square Capital loans grew yet again up 50% year over year. The past 90 days saw $508 million dollars loaned to 70,000 businesses. That's $5,644,000 in loans a day on average (5 million six hundred forty-four thousand), a staggering amount being offered, and 775 business getting a loan every day on average. This continues to be encouraging news for those that are looking for small business loans that Square continuing to expand this category of their business at a very fast rate.
Congratulations to all who were extended loans and were able to expand their business or buy more inventory etc. Seeing this many opportunities being extended is promising for all those still hoping for an offer.
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This is great for a company who makes borrowing capital so easy for small business.
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