Newtek Bank
The bank of NewtekOne: term loans from $5,000 to $15 million and lines of credit for business owners.
About
NewtekOne says it is a financial holding company and that its loans "are made by Newtek Bank, N.A." Its lending pages list term loans from $5,000 to $15 million and revolving lines of credit "secured by accounts receivable" or by inventory, from $50,000 to $5,000,000; the uses it names include "Purchase inventory or equipment." SBA's 7(a) Lender Activity Report lists Newtek Bank, National Association, and by SBA's count it is one of the most active SBA 7(a) lenders. Who it is for: Business owners who want a term loan or a line of credit; NewtekOne calls itself "a Direct Lender."
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