Enova is an online lender to non-prime consumers and small businesses in the U.S. and Brazil. Enova's customers are people and businesses who have bank accounts but can't access credit from traditional lenders — consumers typically have low-to-fair FICO scores and earn around $42K per year, while small business customers are very small, with median annual sales of about $585K. Enova's core consumer products are unsecured installment loans ($300–$10K) and lines of credit ($100–$7K), sold under the CashNetUSA and NetCredit brands. The small business segment offers loans and lines of credit from $5K–$400K under the OnDeck and Headway Capital brands. Enova makes money by lending at high interest rates — consumer yields range from roughly 90–147% and small business yields run around 48–49% — with profitability driven by the spread between those yields and credit losses. Small business has grown to roughly 68% of the total receivables portfolio. Enova operates entirely online, with no physical branches, and acquires customers through TV, digital, and direct mail. Repeat customers make up about 60% of originations and carry lower acquisition costs. Enova argues its key competitive advantage is a proprietary dataset of 69M+ transactions since 2004, powering machine-learning underwriting models that a new entrant would struggle to replicate. In late 2025, Enova agreed to acquire Grasshopper Bank, a national bank, which is expected to simplify its regulatory structure, expand its geographic footprint, and provide lower-cost deposit funding.