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05

Square Falls on Concerns Over Financing of Loan Program

By Tony Seruga

Profit margin on hardware sales not favored by investors
Company cites `challenging credit market conditions’ on loans

Square Inc. shares fell as much as 16 percent on concerns about financing for its small-business customer-loan program, a service that had been viewed as a growth area for the digital-payments company.

The company said Thursday in its first-quarter earnings report that it extended $153 million in loans and advances, a 4 percent increase from the previous quarter. Square said it faced “challenging credit market conditions” and cited delays signing new investors to help back its lending business…

Square Falls on Concerns Over Financing of Loan Program

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