I wanted to make you aware that funds for PPP loans have been exhausted and the SBA is no longer accepting applications. We will continue to work with clients who have been notified by Newtek that they received an SBA approval number. These loans will be processed and funded as long as all required documentation is submitted by PPP borrowers during the closing process.
For those clients who have not applied for a PPP loan, there is no longer availability to receive funds under this program. As a reminder, Newtek's full array of lending capabilities are available for business owner needs.
Benefits of a loan with Newtek include:
- Loans from $50K to $15M
- 10-25 year amortization schedules
- Higher advance rates than banks
- No bank loan covenants
- Single digit interest rates
Client or prospect referrals who are in need of growth capital, working capital, CRE refinance, and CRE purchase finance, can be directly entered into NewTracker. You also are welcome to reach out to me to discuss.
Regards,
Miguel |
