Newtek Business Services Corp. has closed on its small-business loan securitization, with the sale of about $75.4 million of unguaranteed SBA 7(a) loan-backed notes, series 2017-1, consisting of about $58.1 million of class A notes and about $17.3 million class B notes.

The notes had a 79.50% advance rate and were priced at an average initial yield of 3.59% across both classes.

Deutsche Bank Securities Inc. served as sole book-running manager, and Capital One Securities Inc. acted as co-manager for the offering.