Headquartered in Chicago, IL Fiscal year ends December NYSE: ENVA enova.com
Enova International (NYSE: ENVA) is an online financial services company that provides credit products to consumers and small businesses who are underserved by traditional banks. The company offers a diversified suite of lending products including installment loans, lines of credit, and finance receivables, powered by proprietary machine learning algorithms, advanced analytics, and a fully online business model. Over its 20+ year history, Enova has provided over $74 billion in loans and financing to more than 16 million customers. The company generates revenue from interest and fees on its loan portfolio, with fair value accounting applied to its receivables. Enova funds its lending through a combination of secured and unsecured debt facilities, and operates a Credit Services Organization (CSO) program where third-party lenders originate loans guaranteed by Enova. The company is pursuing strategic expansion through its planned acquisition of Grasshopper Bancorp and its subsidiary Grasshopper Bank. Updated
Enova grew the loan book 30% to a record $5.9 billion without giving up credit quality. The pending Grasshopper Bancorp deal hands the lender a bank charter and cheaper funding.
Enova International (NYSE: ENVA) is an online financial services company that provides credit products to consumers and small businesses who are underserved by traditional banks.
The Wall Street consensus 12-month price target for ENVA is $238.50.