trending Market Intelligence /marketintelligence/en/news-insights/trending/rqyvfxdlx30nribyruqdba2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Newtek executes letter of intent for $75M credit facility

Banking Essentials Newsletter December Edition Part 2

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery


Newtek executes letter of intent for $75M credit facility

Newtek Business Services Corp. on March 29 executed a letter of intent for a proposed $75 million senior secured revolving credit facility through Capital One NA.

The facility will be available to a newly formed wholly owned portfolio company, Newtek Business Lending LLC. The facility will be used to originate loans to small businesses to finance purchases of buildings, land and machinery; construction of new facilities; and modernizing, renovating or converting existing facilities, among other uses.

Newtek expects the facility to contain a $75 million accordion feature that would allow Newtek Business Lending to increase the borrowing available under the facility to $150 million, subject to lender approval.

The facility is subject to final documentation and approvals.