Newtek Small Business Finance Phone Number – NEW YORK, June 29, 2015 // — Newtek Business Services Corp . (the “Company”), (NASDAQ: NEWT ), an internally managed business development company (“BDC”), today announced that its lending subsidiary, Newtek Small Business Finance, LLC, has signed a lease for 33,899 square feet of office space squares in 1981 Marcus Avenue, Lake Success, New York. The company expects leasing to begin in the first quarter of 2016. CBRE Group Inc. advised the company on this transaction.
Barry Sloan, chairman, president and CEO of Newtek Business Services Corp. said: “We are pleased to announce the signing of this new lease which signifies the expected expansion of our lending business, growth of our other portfolio companies and potential future acquisitions. The purchase of this space furthers our goal of having all of our services live in a central location to market and sell our products and services more effectively and efficiently.”
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Mr. New York, which is easily accessible by public and private transportation. Additionally, there are three additional buildings adjacent to this address that provide an additional 1.0 million square feet of space, which further increased the appeal of expanding our business to this particular location. 🇧🇷 We expect to occupy this space in the first quarter of 2016.”
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Martin Lomazov, Senior Vice President, CBRE, said: “We are delighted to represent Newtek in this transaction. Newtek’s rapid growth and desire to expand to Long Island is a fantastic Long Island story. regional companies like Newtek are extremely important to our local economy.”
Newtek Business Services Corp., The Small Business Authority®, is an internally managed BDC that, together with its controlled portfolio companies, offers a broad range of business services and financial products under Newtek.
A brand for the small and medium business (“SMB”) market Since 1999, Newtek has provided cost-effective, cutting-edge products and services and effective business strategies to more than 100,000 SMB accounts worldwide. 50 countries to help them increase their sales, control their costs and reduce their risks.
Newtek products and services include: business loans, electronic payment processing, managed technology solutions (cloud computing), e-commerce, receivables financing, secure portal, Newtek™ Advantage, insurance services, web services, data backup, storage and retrieval and payroll.
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Small Business Authority® is a registered trademark of Newtek Business Services Corp. and is not part of or endorsed by the US Small Business Administration.
This press release contains certain forward-looking statements. Words such as “believes,” “intends,” “anticipates,” “projects,” “expects” and “future” or similar expressions are intended to identify forward-looking statements. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the plans, intentions and expectations reflected or suggested in the forward-looking statements. Such risks and uncertainties include, but are not limited to, increased competition, operational issues and their impact on revenues and profit margins, anticipation of future business strategies and financial results, expected future customer numbers, business prospects, legislative developments and similar matters. . Risk factors, caveats and other conditions that could cause Newtek’s actual results to differ from management’s current expectations are contained in Newtek’s filings with the Securities and Exchange Commission and are available at http://www.sec .gov /. dominate the SBA market. There’s a reason we’re number two in the US. Superior, easy-to-use technology throughout the lending process, built on Newtek’s 24-year history of understanding business needs. We offer loans from 10,000 to 20,000,000 USD. Visit us today to order and learn first hand how we can help your business at www.newtekone.com. *Based on June 30, 2022 SBA 3 Quarter Calendar Year SBA Ratings
It seems like it wasn’t long ago. This year NAGGL is so close yet so far away from participating. I will be there in spirit.
The numbers at the end of 2022 are for the SBA South Florida District. Newtek is the number one lender. Congratulations to the Newtek teams. Smart work and dedication pay off
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SBA in late 2022 more than 1 billion in 7A loans. Yes, 1 billion. The best year we’ve ever had. In 2nd place in the country. Looking forward to better things in 2023!!
3. Qrt enters the record books. We nailed it. Apply for loan now Visit us at www.newtekone.com https://lnkd.in/e78Cgv3F
The SBA calendar year has ended. I am extremely proud of the hard work, dedication and achievements of all Newtek employees. I’m proud to be a Newtekone. Follow-up tweets follow. Check the appropriate box below if the filing of the Form 8-K must simultaneously satisfy the registrant’s filing obligation under one of the following provisions (see General Instruction A.2. below):
Indicate by check whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 ( §240.12b-2 of this ) chapter).
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If an emerging growth company, indicate whether the registrant has elected not to use the extended transition period to comply with new or revised financial accounting standards under Section 13(a) of the Exchange Act.
Statements in this Current Report on Form 8-K (including exhibits), including statements about Newtek Business Services Corp.’s beliefs, expectations, intentions or strategies. (“Newtek” or the Company’s) beliefs, expectations, intentions or strategies for the future, may be forward-looking – research statements. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the plans, intentions and expectations reflected or suggested in the forward-looking statements. Such risks and uncertainties include, but are not limited to, increased competition, operational issues and their impact on revenues and profit margins, anticipation of future business strategies and financial results, expected future customer numbers, business prospects, legislative developments and similar matters. . Risk factors, caveats and other conditions that could cause Newtek’s actual results to differ from management’s current expectations are contained in Newtek’s filings with the Securities and Exchange Commission. Newtek undertakes no obligation to update any forward-looking statement to reflect events or circumstances that may arise after the date of such filing.
Effective May 11, 2017, Newtek Small Business Finance, LLC (“NSBF”), a subsidiary of Newtek Business Services Corp. ) with Capital One, National Association (“Capital One”) and UBS Bank USA (“UBS”) as lenders (in that capacity, collectively the “Lenders”) and Capital One as administrative agent, sole bookrunner and sole lead arranger, pursuant to which UBS was added as a lender and the lenders increased the aggregate amount of the credit facility provided to NSBF from a maximum aggregate amount of US$50,000,000 to US$100,000,000 (the “Amended Credit Facility”). The fully amended line of credit may be used to finance the portions of SBA 7(a) loans originated by NSBF that are guaranteed by the SBA and the portions of SBA 7(a) loans originated by NSBF that are not guaranteed by the SBA. guaranteed. NSBF plans to continue to draw on this amended line of credit to continue to expand its SBA loan origination.
Concurrent with the facility increase, NSBF received a reduction in the interest rate on the facility in effect immediately prior to the agreement from 1.125% if NSBF uses the amended credit facility to fund the unsecured portion of the SBA loans and 1.25% if NSBF or NSBF is used . The line of credit has been modified to finance the guaranteed portion of the SBA loans.
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The Amended Credit Facility will be converted to a term loan on May 11, 2020 with a maturity date of May 11, 2022. The agreement also specifies certain events of default after which Capital One will require immediate reimbursement from NSBF of all outstanding amounts under the credit facility .
In addition, the Company has secured NSBF’s performance and reimbursement obligations under the Agreement pursuant to a second amended and consolidated payment and performance bond dated May 11, 2017 (the “Guarantee”).
The foregoing description is a summary of and is fully qualified by the terms of the Agreement and the Guaranty, which are filed as Exhibits 10.1 and 10.2, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.
A press release announcing the Amended Credit Facility is filed as Exhibit 99.1 to this Current Report on Form 8-K.
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The information contained in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
Fourth Amended and Consolidated Loan and Guarantee Agreement dated as of May 11, 2017 by and among Newtek Small Business Finance, LLC, Capital One, National Association and UBS Bank USA as Lenders, and Capital One, National Association as Administrative Agent, Sole Bookrunner and Sole lead arranger.
Second Amended and Consolidated Payment Guarantee
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