Block Leans Into Lending After Winning Direct Loans Approval

Jack Dorsey’s Block Inc. plans to grow its lending business with the aim of expanding access to credit services after a sequence of disappointing earnings results have shaken investor confidence in the company.

In total, Block has extended more than $100 billion in credit globally across its lending products since 2013. Its credit offerings include small business loans through its Square point-of-sale system, consumer loans via its money transfer service Cash App and buy now, pay later loans offered through Afterpay, the service it acquired in 2022.