- 1Enova originated $1.6B in small business loans in Q4 2025, up from $1.4B in Q3.
- 2CEO Steve Cunningham says credit quality and net charge-offs remain stable.
- 3The Grasshopper Bank acquisition is expected to close in the second half of this year.
Enova reported $1.6 billion in small business loan originations for the fourth quarter of 2025, up from $1.4 billion in the prior quarter.
Demand and credit quality
On the earnings call, CEO Steve Cunningham said much of 2025's conversation centered on tariffs and the broader economy, but that small businesses are looking ahead positively and that this is showing up in demand. Credit quality and net charge-offs have also stayed stable, he said.
Cunningham said Enova's internal and external data show small businesses expressing confidence in the economy and expecting favorable operating conditions in 2026. A study Enova released with Ocrolus found that 94% of small businesses expect to grow over the next 12 months, the highest level of growth expectations on record.
Grasshopper Bank deal
Enova expects to close its acquisition of Grasshopper Bank in the second half of this year. Until then, it said, both companies are operating business as usual.
Source reporting: deBanked.
