Flexible to Meet Your Needs
We offer a number of loan programs to suit the needs of any small business (manufacturing, service, retail, professional or wholesale), with financing from $50,000 to $10 million. We offer several low-cost lending options to help your business succeed, and our loans offer longer maturities than the conventional loans of other organizations. If you’ve never acquired a loan for your business before, you don’t need to do it on your own; our experienced staff will guide you through the entire process and help you choose financing and a loan term that works for you. Use the proceeds for any number of purposes: expand or acquire a business, finance business expenses or office equipment, or purchase real estate.
- Net worth must not exceed $7.5 million
- Average net income over the last 2 years must not exceed $2.5 million
- Business must be operated for profit and located in the U.S.
- Owners must be U.S. citizens or resident aliens
- 51% or great occupied by owner operated business
- Loans range in size from $50,000 to $10 million
- Loans are structured without balloon payments
- Interest rates are floating, up to 2.75% over prime
- Personal guarantees are required from any owners of 20% or more of the business
- Collateral includes all business assets and may also include personal assets
- Expand or acquire a business, or franchise. Acquire 100% of an existing business, or pay fees to start a franchise
- Finance business expenses (working capital). Pay salaries and vendors, purchase inventory, advertise, finance receivables, pay bookkeeping and legal fees, or rent office space
- Purchase office or other equipment. Purchase computers, furniture, fixtures, manufacturing equipment, and heavy machinery
- Purchase or improve owner-occupied real estate. Purchase or construct buildings, make leasehold improvements, expand or renovate facilities, or purchase land. If purchasing, owner must occupy at least 51% of the real estate; if constructing, owner must occupy at least 67%
- Refinance existing business debt. Improve cash flow by reducing monthly loan payments by at least 20%
*All loans made or serviced under the SBA program (U.S. Small Bus. Administration) are made by our lending subsidiary, Newtek Small Business Finance, Inc, a licensed U.S. SBA lender.