|
In an industry where many lenders shy away or charge absorbent fees for service, Newtek Business Service Corp. (NASDAQ: NEWT) is an ally. Newtek is happy to support the fuel and oil industry and has been proudly doing so for the past 20+ years through our full suite of lending products.
Newtek's lending overview:
Business Term Loans
- $10,000 to $15 Million
- Up to 25-year amortization schedule
- Zero to limited loan covenants compared to traditional lenders
Secured Lines of Credit
- Up to $3 Million
- Backed By:
- Receivables: Up to 80% advance rate - Renewable 1-year term
- Inventory: Up to 50% advance rate - Renewable 1-year term
- Quick turnaround compared to term loans
The proceeds from these funds could be used for a variety of reasons – Including, but not limited to:
- Refinancing existing debt
- Working Capital Needs – Increase Cash Flow
- Purchasing equipment
- Financing an Expansion
- Acquiring Another Business
- Modernizing your Facility
- Increasing Marketing and Advertising
To explore all that Newtek has to offer and to see which funding option is right for your business, please click below to be connected with one of our specialists:
| |
|
