In Square’s ($SQ) third quarter earnings, one notable figure that stood out was the fact that the company, as of September, has provided more than $1 billion in loans to businesses through its Square Capital program. This effort comes two years after its launch and, by comparison, matches the speed of competitor PayPal, which hit the $1 billion mark in 2015.
How many businesses have benefited from this program, which aims to provide funding to small businesses to expand their operations, remains unknown, as the company keeps that information secret.
