- 1Square gross profit rose 9% year over year in Q1, led by Financial Solutions.
- 2Block did not disclose Q1 business loan originations; an industry estimate is ~$1.9B.
- 3Consumer lending originations grew 82% and Borrow grew 300%.
Block did not disclose how many business loans it originated in the first quarter of 2026, but said the number grew. An estimate of online small business lender originations puts the figure at roughly $1.9 billion.
"Square gross profit grew 9% year over year in the first quarter, driven primarily by Financial Solutions, most notably Square Loans," the company said.
Lending across the company
Lending has become a significant business across all of Block's verticals. Consumer lending origination volume growth accelerated to 82% year over year, and the company's Borrow product grew 300% over the same period.
Block's earnings presentation framed the trend as a pattern: each new lending product has scaled originations faster than the one before it. The presentation included a snapshot illustrating that progression.
Block's disclosure leaves the exact size of Square Loans' quarter unstated, so third-party estimates remain the main yardstick for comparing it with other online small business lenders.
Source reporting: deBanked.
