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SBA

Newtek review.

Newtek is a top SBA 7(a) lender that bundles SBA financing with merchant services, payroll, and insurance.

Loan range
$50K – $15M (SBA 7(a))
Speed
45–60 days
APR / Fee
Prime + 2.75% to Prime + 4.75%
HQ
Boca Raton, FL · est. 1998
Best for

Small-to-mid SBA loans bundled with payment processing + payroll.

Watch out for

Ancillary product cross-sell heavy.

Pros
  • +Top SBA lender by volume
  • +Bundled business services
  • +National coverage
Cons
  • –Aggressive cross-sell
  • –Slower than direct lenders
  • –Personal guarantee + collateral
Alternatives to Newtek
Live Oak Bank
$150K – $15M (SBA 7(a) and 504)
Huntington Bank
$5K – $5M (SBA 7(a))
Ready Capital
$150K – $25M (SBA + bridge)
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