Business
Newtek Small Business Finance Has Begun Accessing the Paycheck Protection Program Loan Portal Beginning Today
BOCA RATON, Fla., Jan. 15, 2021 (GLOBE NEWSWIRE) -- Newtek Business Services Corp., (Nasdaq: NEWT), an internally managed business development company
About this update from Newtekone, Inc.
[{"type":"text","content":"BOCA RATON, Fla., Jan. 15, 2021 (GLOBE NEWSWIRE) -- Newtek Business Services Corp., (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that Newtek Small Business Finance, LLC (“NSBF”), the Company’s nationally licensed lender under the U.S. Small Business Administration (“SBA”) Section 7(a) Program, has been granted early access to the Paycheck Protection Program (“PPP”) loan portal beginning today. Beginning at 9:00 am ET this morning, the SBA re-opened the PPP loan portal to PPP-eligible lenders with $1.0 billion or less in assets, including community banks and credit unions, for first- and second-draw PPP loan applications. The PPP loan portal will fully open on Tuesday, January 19, 2021 to all other participating PPP lenders to submit first- and second-draw PPP loan applications. Barry Sloane, President, Chairman and CEO said, “We greatly appreciate the opportunity to service independent business owners across the U.S., and we are currently submitting first- and second-draw PPP loan applications to the SBA on behalf of our customers. We appreciate the SBA designating NSBF in the first lender group, which will assist our borrowers in having priority in their receipt of their SBA loan (E-Tran) numbers. We believe we have begun 2021 in a strong position as we have made significant improvements to our lending platform since 2020, including software, technology and operational processes, and believe these enhancements leave us well positioned to deliver strong results.” Mr. Sloane concluded, “For those businesses seeking first- and second-draw PPP loans, please visit our website at https://www.newtekone.com for specific details of the PPP loan program, or contact us at 1-855-763-9835, and one of our lending specialists will assist you.” About Newtek Business Services Corp. Newtek Business Services Corp., Your Business Solutions Company®, is an internally managed BDC, which along with its controlled portfolio companies, provides a wide range of business and financial solutions under the Newtek® brand to the small- and medium-sized business (“SMB”) market. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to SMB relationships across all 50 states to help them grow their sales, control their expenses and reduce their risk....