Newtek Bank
Miami bank and top SBA 7(a) lender by loan count: SBA and term loans from $5K to $15M, 10.0% median 7(a) starting rate, 5 to 25 years, 30 to 90 days to close.
Rates & Cost
What the financing costs, normalized so lenders can be compared.
Repayment Terms
How and how fast you pay it back, and how flexible it is.
Eligibility & Access
Who qualifies and what you have to put on the line.
Speed & Service
How fast you get funded and how the lender treats you.
Company Verification
Who actually stands behind the lender: legal entity, registration, and how long the business and its website have existed. Checked against public registries.
Best for: Businesses two or more years old that want a bank-held SBA 7(a) or term loan from $5K to $15M to buy a business, refinance or purchase owner-occupied property, and can wait weeks.
Not for: Startups, owners who need money within days, or anyone who wants to see a rate before applying. An online lender is faster; Newtek publishes no pricing.
Lender List verdict: Newtek Bank made more SBA 7(a) loans than any other lender in the year to June 30, 2026, at a 10.0% median starting rate, right at the SBA cap for larger loans. It is a strong choice for a mid-size SBA deal, but expect heavy paperwork, a full credit check and no posted prices.
Newtek Bank at a glance
Newtek Bank is a Miami-based national bank that approved 4,678 SBA 7(a) loans in the 12 months to June 30, 2026.
| Newtek Bank | |
|---|---|
| Lender type | FDIC-insured national bank; direct SBA 7(a) lender |
| Founded | 1963 charter; Newtek Bank name since 2023 |
| HQ | Miami, FL |
| Parent/owner | NewtekOne, Inc. (Nasdaq: NEWT) |
| Products | SBA 7(a) and Express, term loans, receivables and inventory lines of credit |
| Amounts | $5K to $15M term loans; lines up to $5M |
| Cost (headline) | 10.0% median SBA 7(a) starting rate; variable, tied to Prime |
| Term | 5 to 25 years; median 7(a) term 120 months |
| Funding speed | Prequalify in under 5 minutes; SBA loans typically 30 to 90 days |
| Status | Active (2026-10-27) |
What is Newtek Bank?
Newtek Bank, N.A. is the bank behind Newtek Lending (searched as Newtek Small Business Finance) and, by loan count, the busiest SBA 7(a) lender in the year to June 30, 2026. Its parent, NewtekOne, has been publicly traded since 2000 and is listed on Nasdaq as NEWT. In January 2023 the National Bank of New York City, chartered in 1963, was renamed Newtek Bank and moved to Miami. FDIC data put its assets at about $2.47 billion as of June 30, 2026.
Since FY2020, Newtek has approved 13,752 SBA 7(a) loans worth about $5.68 billion, led by California (2,042) and Florida (1,919) borrowers.
How Newtek Bank's SBA loans work
Newtek Bank lends $5K to $15M on fully amortizing terms of 5 to 25 years, with no balloon payment and no standard covenants. You prequalify online without a credit hit; one lending specialist then handles the file.
- Uses: buying a business, refinancing, working capital, owner-occupied real estate, equipment or inventory
- Typical 7(a) loan: median $200,000, variable rate tied to Prime; range $4,000 to $5,000,000
- Lines of credit: up to $5M secured by receivables (advance up to 85%) or inventory (up to 50%), renewed every 12 months, per Merchant Maverick
- Speed: SBA 7(a) loans typically take 30 to 90 days; Merchant Maverick calls Newtek an SBA Preferred Lender
Newtek Bank's SBA programs
Newtek Bank approved 4,828 SBA 7(a) loans for about $2.03 billion in FY2025, and 3,842 for about $1.0 billion in FY2026 through June 30.
- Last 12 months: 4,678 loans for $1.30 billion, first by count and third by dollars
- SBA Express: 18.6% of its 7(a) loans since FY2020, a fast-track version capped at $500,000
Newtek Bank rates and fees: what it really costs
Newtek Bank's SBA 7(a) loans started at a median 10.0% in the year to June 30, 2026, which is Prime (7.00%) plus 3%. SBA caps the margin at Prime + 4.5% on loans of $250,001 to $350,000 and Prime + 3% above $350,000, so Newtek's median equals the ceiling for larger loans.
- SBA guaranty fee: 2% of the guaranteed share at $150,000 or less; 3% on $150,001 to $700,000
- Prepayment: SBA's 5%/3%/1% fee applies only on 15+ year terms prepaid 25% or more in years one to three
- Not published: Newtek's own closing or packaging fees
Worked example: a $350,000, 10-year 7(a) loan at 10.0% costs $4,625.28 a month, or $555,033.09 in total, including $205,033.09 of interest. The $7,875 guaranty fee (3% of the 75% guaranteed share) lifts the APR to about 10.55%. At the SBA cap of 11.5%, the same loan would cost $4,920.84 a month.
Newtek Bank requirements
Newtek Bank publishes no credit-score, revenue or time-in-business minimum; Merchant Maverick reports approved borrowers usually have two or more years in business.
| Requirement | Newtek Bank minimum |
|---|---|
| Credit score | Lender does not publish (SBA: SBSS business score 165+ for 7(a) loans up to $350K) |
| Time in business | Lender does not publish (third-party: 2 years) |
| Annual revenue | Lender does not publish; SBA size standards apply |
| Equity injection | 10% for startups and business purchases (SBA) |
| Credit check | Soft pull to prequalify; full credit check to apply |
| Collateral / guarantee | Owners of 20%+ guarantee; collateral per bank policy on $50,001 to $500,000 |
Pros and cons
Newtek Bank's main strengths are SBA volume and loans up to $15M; its main weakness is that it publishes no rates or fees.
Pros
- Highest SBA 7(a) loan count of any lender over the last 12 months
- Term loans to $15M, above the $5M SBA ceiling
- Prequalification leaves your credit score untouched
- SBA loans in 52 states and territories
- One lending specialist and lender-prepared documents
Cons
- No rates or fees on the website
- 10.0% median rate sits at the SBA cap for loans over $350K
- Not built for startups
- Reviewers cite heavy paperwork, slow processing and hard-to-reach reps
Newtek Bank vs. iBusiness Funding vs. Lendistry
Newtek Bank lends up to $15M, versus $5M SBA maximums at iBusiness Funding and Lendistry.
| Newtek Bank | iBusiness Funding | Lendistry | |
|---|---|---|---|
| Max amount | $15M ($5M SBA) | $5M SBA 7(a) | $5M SBA 7(a) |
| Pricing | Not published; 10.0% median 7(a) rate | As low as Prime + 2.75% | Variable from 8.25% (≤$350K) / 7.75% (Standard) |
| Min FICO | Lender does not publish | 640 | 620 |
| Min time in business | Not published (third-party: 2 years) | 2 years (7(a) over $350K) | 2 years |
| Repayment | Monthly, 5 to 25 years | 10 to 25 years | 10 to 25 years |
| Speed | 30 to 90 days (SBA typical) | 5 to 25 days to close | 5 to 20 business days (≤$350K); 35 to 90 (Standard) |
iBusiness Funding and Lendistry figures are from their own sites, checked 2026-10-26.
Choose Newtek Bank for a larger loan from a direct bank lender. Choose iBusiness Funding for a fast online SBA process. Choose Lendistry for a published rate floor and a 620 score.
Newtek Bank alternatives on Lender List
The closest Newtek Bank alternatives are iBusiness Funding and Lendistry; no other Florida SBA bank is listed yet.
- iBusiness Funding — national online SBA platform with a published spread
- Lendistry — SBA 7(a) with posted rate floors and timelines
- East West Bank — bank SBA 7(a) lender
- Browse all SBA 7(a) loans and business lines of credit on Lender List
Frequently asked questions about Newtek Bank
Newtek Bank is a legitimate, FDIC-insured national bank and the most active SBA 7(a) lender by loan count.
Is Newtek Bank Legit? Yes. Newtek Bank, N.A. holds a national charter dating to 1963, is FDIC-insured (cert 18734) and is owned by Nasdaq-listed NewtekOne. It approved 4,678 SBA 7(a) loans in the year to June 30, 2026, more than any other lender. Merchant Maverick rates it 3.3/5, citing paperwork and slow service.
Is Newtek Bank FDIC Insured? Yes. Newtek Bank, National Association is an FDIC member under certificate 18734, insured since 1963, when it opened as Flushing National Bank. Its business loans and its savings, checking and CD accounts are all held at the bank itself, and it files quarterly reports with the FDIC.
Is Newtek Bank Safe? Yes, by the usual measures: it is FDIC-insured, regulated as a national bank and held about $2.47 billion in assets on June 30, 2026. Its parent, NewtekOne, is a publicly traded financial holding company, so its results are disclosed to investors.
Where Is Newtek Bank Located? Newtek Bank is headquartered in Miami, Florida, and runs a single office. It lends nationwide online and by phone rather than through branches; its top SBA borrower states are California, Florida, Texas, New York and Georgia, and it has made 7(a) loans in 52 states and territories.
Who Owns Newtek Bank? NewtekOne, Inc., a financial holding company listed on Nasdaq as NEWT, owns Newtek Bank. The bank, chartered in 1963, took the Newtek name in January 2023; NewtekOne, public since 2000, also sells payments, payroll, insurance and technology services to small businesses.
How Long Does Newtek Bank Take to Close an SBA Loan? Plan on roughly 30 to 90 days; Newtek does not publish a timeline. Prequalifying takes under five minutes and does not affect your credit score. A Preferred Lender can approve without a separate SBA review, but documents and closing still take weeks.
Does Newtek Bank Lend to Startups? Rarely. Newtek publishes no startup program, and Merchant Maverick says approved borrowers usually have at least two years in business. Under SBA rules, a startup or business buyer must also inject at least 10% of the project cost, and owners of 20% or more sign a personal guarantee.
Last verified 2026-10-27. Pricing and terms are provider-stated or third-party-reported and vary by offer; confirm with the lender before applying.
Best for: Businesses two or more years old that want a bank-held SBA 7(a) or term loan from $5K to $15M to buy a business, refinance or purchase owner-occupied property, and can wait weeks.
Not for: Startups, owners who need money within days, or anyone who wants to see a rate before applying. An online lender is faster; Newtek publishes no pricing.
Lender List verdict: Newtek Bank made more SBA 7(a) loans than any other lender in the year to June 30, 2026, at a 10.0% median starting rate, right at the SBA cap for larger loans. It is a strong choice for a mid-size SBA deal, but expect heavy paperwork, a full credit check and no posted prices.
Newtek Bank at a glance
Newtek Bank is a Miami-based national bank that approved 4,678 SBA 7(a) loans in the 12 months to June 30, 2026.
| Newtek Bank | |
|---|---|
| Lender type | FDIC-insured national bank; direct SBA 7(a) lender |
| Founded | 1963 charter; Newtek Bank name since 2023 |
| HQ | Miami, FL |
| Parent/owner | NewtekOne, Inc. (Nasdaq: NEWT) |
| Products | SBA 7(a) and Express, term loans, receivables and inventory lines of credit |
| Amounts | $5K to $15M term loans; lines up to $5M |
| Cost (headline) | 10.0% median SBA 7(a) starting rate; variable, tied to Prime |
| Term | 5 to 25 years; median 7(a) term 120 months |
| Funding speed | Prequalify in under 5 minutes; SBA loans typically 30 to 90 days |
| Status | Active (2026-10-27) |
What is Newtek Bank?
Newtek Bank, N.A. is the bank behind Newtek Lending (searched as Newtek Small Business Finance) and, by loan count, the busiest SBA 7(a) lender in the year to June 30, 2026. Its parent, NewtekOne, has been publicly traded since 2000 and is listed on Nasdaq as NEWT. In January 2023 the National Bank of New York City, chartered in 1963, was renamed Newtek Bank and moved to Miami. FDIC data put its assets at about $2.47 billion as of June 30, 2026.
Since FY2020, Newtek has approved 13,752 SBA 7(a) loans worth about $5.68 billion, led by California (2,042) and Florida (1,919) borrowers.
How Newtek Bank's SBA loans work
Newtek Bank lends $5K to $15M on fully amortizing terms of 5 to 25 years, with no balloon payment and no standard covenants. You prequalify online without a credit hit; one lending specialist then handles the file.
- Uses: buying a business, refinancing, working capital, owner-occupied real estate, equipment or inventory
- Typical 7(a) loan: median $200,000, variable rate tied to Prime; range $4,000 to $5,000,000
- Lines of credit: up to $5M secured by receivables (advance up to 85%) or inventory (up to 50%), renewed every 12 months, per Merchant Maverick
- Speed: SBA 7(a) loans typically take 30 to 90 days; Merchant Maverick calls Newtek an SBA Preferred Lender
Newtek Bank's SBA programs
Newtek Bank approved 4,828 SBA 7(a) loans for about $2.03 billion in FY2025, and 3,842 for about $1.0 billion in FY2026 through June 30.
- Last 12 months: 4,678 loans for $1.30 billion, first by count and third by dollars
- SBA Express: 18.6% of its 7(a) loans since FY2020, a fast-track version capped at $500,000
Newtek Bank rates and fees: what it really costs
Newtek Bank's SBA 7(a) loans started at a median 10.0% in the year to June 30, 2026, which is Prime (7.00%) plus 3%. SBA caps the margin at Prime + 4.5% on loans of $250,001 to $350,000 and Prime + 3% above $350,000, so Newtek's median equals the ceiling for larger loans.
- SBA guaranty fee: 2% of the guaranteed share at $150,000 or less; 3% on $150,001 to $700,000
- Prepayment: SBA's 5%/3%/1% fee applies only on 15+ year terms prepaid 25% or more in years one to three
- Not published: Newtek's own closing or packaging fees
Worked example: a $350,000, 10-year 7(a) loan at 10.0% costs $4,625.28 a month, or $555,033.09 in total, including $205,033.09 of interest. The $7,875 guaranty fee (3% of the 75% guaranteed share) lifts the APR to about 10.55%. At the SBA cap of 11.5%, the same loan would cost $4,920.84 a month.
Newtek Bank requirements
Newtek Bank publishes no credit-score, revenue or time-in-business minimum; Merchant Maverick reports approved borrowers usually have two or more years in business.
| Requirement | Newtek Bank minimum |
|---|---|
| Credit score | Lender does not publish (SBA: SBSS business score 165+ for 7(a) loans up to $350K) |
| Time in business | Lender does not publish (third-party: 2 years) |
| Annual revenue | Lender does not publish; SBA size standards apply |
| Equity injection | 10% for startups and business purchases (SBA) |
| Credit check | Soft pull to prequalify; full credit check to apply |
| Collateral / guarantee | Owners of 20%+ guarantee; collateral per bank policy on $50,001 to $500,000 |
Pros and cons
Newtek Bank's main strengths are SBA volume and loans up to $15M; its main weakness is that it publishes no rates or fees.
Pros
- Highest SBA 7(a) loan count of any lender over the last 12 months
- Term loans to $15M, above the $5M SBA ceiling
- Prequalification leaves your credit score untouched
- SBA loans in 52 states and territories
- One lending specialist and lender-prepared documents
Cons
- No rates or fees on the website
- 10.0% median rate sits at the SBA cap for loans over $350K
- Not built for startups
- Reviewers cite heavy paperwork, slow processing and hard-to-reach reps
Newtek Bank vs. iBusiness Funding vs. Lendistry
Newtek Bank lends up to $15M, versus $5M SBA maximums at iBusiness Funding and Lendistry.
| Newtek Bank | iBusiness Funding | Lendistry | |
|---|---|---|---|
| Max amount | $15M ($5M SBA) | $5M SBA 7(a) | $5M SBA 7(a) |
| Pricing | Not published; 10.0% median 7(a) rate | As low as Prime + 2.75% | Variable from 8.25% (≤$350K) / 7.75% (Standard) |
| Min FICO | Lender does not publish | 640 | 620 |
| Min time in business | Not published (third-party: 2 years) | 2 years (7(a) over $350K) | 2 years |
| Repayment | Monthly, 5 to 25 years | 10 to 25 years | 10 to 25 years |
| Speed | 30 to 90 days (SBA typical) | 5 to 25 days to close | 5 to 20 business days (≤$350K); 35 to 90 (Standard) |
iBusiness Funding and Lendistry figures are from their own sites, checked 2026-10-26.
Choose Newtek Bank for a larger loan from a direct bank lender. Choose iBusiness Funding for a fast online SBA process. Choose Lendistry for a published rate floor and a 620 score.
Newtek Bank alternatives on Lender List
The closest Newtek Bank alternatives are iBusiness Funding and Lendistry; no other Florida SBA bank is listed yet.
- iBusiness Funding — national online SBA platform with a published spread
- Lendistry — SBA 7(a) with posted rate floors and timelines
- East West Bank — bank SBA 7(a) lender
- Browse all SBA 7(a) loans and business lines of credit on Lender List
Frequently asked questions about Newtek Bank
Newtek Bank is a legitimate, FDIC-insured national bank and the most active SBA 7(a) lender by loan count.
Is Newtek Bank Legit? Yes. Newtek Bank, N.A. holds a national charter dating to 1963, is FDIC-insured (cert 18734) and is owned by Nasdaq-listed NewtekOne. It approved 4,678 SBA 7(a) loans in the year to June 30, 2026, more than any other lender. Merchant Maverick rates it 3.3/5, citing paperwork and slow service.
Is Newtek Bank FDIC Insured? Yes. Newtek Bank, National Association is an FDIC member under certificate 18734, insured since 1963, when it opened as Flushing National Bank. Its business loans and its savings, checking and CD accounts are all held at the bank itself, and it files quarterly reports with the FDIC.
Is Newtek Bank Safe? Yes, by the usual measures: it is FDIC-insured, regulated as a national bank and held about $2.47 billion in assets on June 30, 2026. Its parent, NewtekOne, is a publicly traded financial holding company, so its results are disclosed to investors.
Where Is Newtek Bank Located? Newtek Bank is headquartered in Miami, Florida, and runs a single office. It lends nationwide online and by phone rather than through branches; its top SBA borrower states are California, Florida, Texas, New York and Georgia, and it has made 7(a) loans in 52 states and territories.
Who Owns Newtek Bank? NewtekOne, Inc., a financial holding company listed on Nasdaq as NEWT, owns Newtek Bank. The bank, chartered in 1963, took the Newtek name in January 2023; NewtekOne, public since 2000, also sells payments, payroll, insurance and technology services to small businesses.
How Long Does Newtek Bank Take to Close an SBA Loan? Plan on roughly 30 to 90 days; Newtek does not publish a timeline. Prequalifying takes under five minutes and does not affect your credit score. A Preferred Lender can approve without a separate SBA review, but documents and closing still take weeks.
Does Newtek Bank Lend to Startups? Rarely. Newtek publishes no startup program, and Merchant Maverick says approved borrowers usually have at least two years in business. Under SBA rules, a startup or business buyer must also inject at least 10% of the project cost, and owners of 20% or more sign a personal guarantee.
Last verified 2026-10-27. Pricing and terms are provider-stated or third-party-reported and vary by offer; confirm with the lender before applying.
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