Tag: payday loan biz


The Businesss of Lending to the Masses from the Perspective of ENOVA: Publicly Traded Sent Tuesday

Small Dollar Lending Upheaval & Chaos = Opportunity

Lenders want to know what the heck is going on! So many unknowns. Government subsidies, the election, Chinese virus, “essential business” definition, consumer demand for loans… Maybe you have a few buddies in our industry you can call. Perhaps you’ve joined a “virtual convention” & listened to the pundits and the academics. Now & then you might happen upon a balance sheet lender whose “in the weeds,” gotten their boots muddy, and actually bought leads and funded some loans. 
Luckily for me, and for you, I’m privy to a lot of these conversations, deal-making, tribal developments, Fintech Founders reaching out to me for advice & counsel, investors in pursuit of information & guidance, vendors offering industry insight…
Here’s an idea for those of you seeking assurance that “the business of lending to the masses” will continue unabated!
ENOVA, a publicly-traded Lender serving a matrix of borrowers released their earnings report. They did just over $300M in revenue in their latest quarter! Within their earnings release is essential data regarding the state of our industry. Additionally, there is a phone number enabling you to listen to their recorded earnings call and a question & answer period where, at one point, I jump in.
I HIGHLY suggest you invest several minutes and listen in.

Tools for B2C Lenders:

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PPS: Artificial Intelligence [AI] debt negotiation to collect your money: IOUUmpire.com 
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Need help with your loan business? It’s in the latest version of our “bible:” TheBusinessOflending.com  And don’t forget to visit our “Resources Page!”

Enova Reports Third Quarter 2020 Results

– Compared to a year ago, both diluted earnings per share from continuing operations and adjusted earnings per share more than tripled to $3.09 and $2.97, respectively

– Consolidated portfolio delinquency and net charge-off rates as a percentage of average combined loan and finance receivables were among the lowest in the company’s history

– Total company originations increased 56% from the second quarter to $140 million

– At September 30, cash and marketable securities totaled $552 million and available capacity on committed facilities totaled $332 million

– Completed the acquisition of On Deck Capital, Inc. on October 13

CHICAGO, Oct. 27, 2020 /PRNewswire/ — Enova International (NYSE: ENVA), a leading financial technology and analytics company offering consumer and small business loans and financing, today announced financial results for the third quarter ending September 30, 2020.

“We are pleased to report strong earnings as the credit quality of the portfolio continued to improve during the third quarter,” said David Fisher, Enova’s CEO. “Encouraged by the better than expected portfolio performance and the stable and predictable credit risk seen in our testing, we thoughtfully began reaccelerating lending in the third quarter. Also, on October 13th, we successfully completed our acquisition of OnDeck. Similar to Enova’s performance during the third quarter, OnDeck experienced growth in originations, improving credit quality and solid profitability. Our integration plans and recognition of the expected synergies and financial benefits of the transaction remain on track. With the combination of Enova’s and OnDeck’s complementary, market-leading businesses and our extensive experience navigating changes in the operating environment, we believe we are well-positioned to grow profitably and drive long-term shareholder value.”

Third Quarter 2020 Summary

  • Total revenue of $205 million in the third quarter of 2020 decreased by 33% from $306 million in the third quarter of 2019.
  • Net revenue margin of 88.9% in the third quarter of 2020 compared to gross profit margin of 46.9% in the third quarter of 2019.
  • Net income from continuing operations of $94 million, or $3.09 per diluted share, in the third quarter of 2020, compared to $29 million, or $0.83 per diluted share, in the third quarter of 2019.
  • Third-quarter 2020 adjusted EBITDA of $136 million, a non-GAAP measure, compared to $64 million in the third quarter of 2019.
  • Adjusted earnings of $90 million, or $2.97 per diluted share, both non-GAAP measures, in the third quarter of 2020, compared to adjusted earnings of $32 million, or $0.92 per diluted share, in the third quarter of 2019.

“Our financial performance this quarter reflects the strength and adaptability of our direct online-only business model to efficiently manage expenses and the powerful credit risk management capabilities of our world-class analytics and technology,” said Steve Cunningham, CFO of Enova. “We have the right team, operating model, products, and balance sheet flexibility to quickly and profitably re-accelerate our business as the economy recovers.”


Enova is monitoring and adapting quickly to changes in the current environment due to the COVID-19 pandemic. Given the ongoing uncertainties related to virus resurgences, changes in governmental restrictions, potential economic stimulus, employment stabilization, and business reopenings, the Company is not providing guidance for the fourth quarter of 2020.

For information regarding the non-GAAP financial measures discussed in this release, please see “Non-GAAP Financial Measures” and “Reconciliation of GAAP to Non-GAAP Financial Measures” below.

Conference Call

Enova will host a conference call to discuss its third-quarter results at 4 p.m. Central Time / 5 p.m. Eastern Time today, October 27th. The live webcast of the call can be accessed at the Enova Investor Relations website at http://ir.enova.com, along with the company’s earnings press release and supplemental financial information. The U.S. dial-in for the call is 1-855-560-2575 (1-412-542-4161 for non-U.S. callers). Please ask to join the Enova International call. A replay of the conference call will be available until November 3, 2020, at 10:59 p.m. Central Time / 11:59 p.m. Eastern Time, while an archived version of the webcast will be available on the Enova International Investor Relations website for 90 days. The U.S. dial-in for the conference call replay is 1-877-344-7529 (1-412-317-0088). The replay access code is 10148983.

About Enova

Enova International (NYSE: ENVA) is a leading provider of online financial services to non-prime consumers and small businesses, providing access to credit powered by its advanced analytics, innovative technology, and world-class online platform and services. Enova has provided more than 7 million customers around the globe with access to more than $40 billion in loans and financing. The financial technology company has a portfolio of trusted brands serving consumers, including CashNetUSA®, NetCredit® and Simplic®; three brands serving small businesses, Headway Capital®, The Business Backer® and OnDeck®; and offers online lending platform services to lenders. Through its Enova Decisions™ brand, it also delivers on-demand decision-making technology and real-time predictive analytics services to clients. You can learn more about the company and its brands at www.enova.com.

Want to start/improve your B2C loan business? Grab a copy of our “bible:” TheBusinessOfLending.com

  • Schedule a tactics/strategy call with Jer, our Founder:
  • Implement new, state-of-the-art Fintech platforms to gain INSTANT, Real-time wage & income verification about your applicants? Your debtors?
  • Access 1000.s of banks to gain IBV [Instant Bank Verification]? Know when your borrower gets paid, how much they earn, do they already owe your competitors money, their average daily balance, number of NSF’s they’ve incurred +++?
  • Do you have “bad’ paper? Borrowers who 0we you money? Won’t take your calls? Won’t respond to texts & emails? We have an AI [Artificial Intelligence] solution enabling you to offer your customers the opportunity to never speak to a human while simultaneously negotiating their bad debt with your white


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