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Newtek Bank launches a 7-day term loan up to $350K, explicitly challenging merchant cash advances and undercutting SBA Express on speed.

NewtekOne just closed a $295 million securitization for its Alternative Loan Program (ALP). With the deal 10x oversubscribed, it signals massive institutional appetite for non-SBA business credit.

NewtekOne's credit facility expansion represents a calculated bet on continued growth in alternative lending demand. Success will depend on the company's ability to maintain underwriting discipline while scaling operations, execute efficient securitizations, and navigate potential market volatility.

Barry Sloane, President, Chairman, and CEO of NewtekOne, highlighted the company's exceptional track record in loan performance. He noted...

Newtek Bank and the Company’s non-bank lending subsidiaries closed $316.5 million of loans across all loan products for the three months...