SoFi Technologies SMB Lending: Can New Loans Unlock Growth?

SoFi Technologies (SOFI) posted record Q2 2026 originations of $14.8 billion, up 69% year-over-year, as it rolled out small business lending, according to Zacks Investment Research.

The new SMB loan product targets underserved entrepreneurs, with fast funding and competitive pricing as the pitch. SoFi is delivering it through its capital-light Loan Platform Business, which carries $3 billion in capacity from Basepoint Capital plus additional partnerships. That structure lets SoFi originate SMB loans without funding all of them on its own balance sheet.

The source also flags potential for SoFi to retain SMB loans on its balance sheet in the future. Interpretation: that option suggests management sees SMB credit as a possible longer-term earnings lever, but nothing in the evidence commits SoFi to retention or sets a timeline.

The 69% originations growth is the number that frames the story. A record $14.8 billion quarter shows the platform is scaling before SMB lending contributes meaningfully, so the new product reads as incremental growth layered on an already accelerating base rather than a proof point on its own.

Peers named in the classifier context, including COF and AXP, are not discussed in the source, so no comparison can be drawn from the evidence provided.