Newtek Secures Approximately $300 Million In Debt Financing To Further Its Growth And Objectives For 2023
Newtek Secures Approximately $300 Million In Debt Financing To Further Its Growth And Objectives For 2023
12/07/22, 4:19 PM
Location
san antonioMoney raised
$300 million
Investors
Newtek Business Services Corp. Investor Relations & Public, Newtek Tso Ii Conventional Credit Partners
Newtek Business Services Corp. (NASDAQ: NEWT) today announced that its new joint venture, Newtek-TSO II Conventional Credit Partners, LP, has closed a $150 million leverage facility from a well-known investment bank to be used to fund the acquisition of non-conforming conventional loans made to middle-market companies as well as small businesses. In addition, Newtek’s portfolio company Newtek Business Lending, LLC, has entered into amendments and extensions of two credit lines with two financing providers for $110 million in total, to fund, among other things, SBA 504 loans. Finally, Newtek Merchant Solutions, a wholly owned portfolio company, entered into an amendment to an existing credit facility for an additional $18 million in availability under its credit line.
Company Info
Location
san antonio, texas, united states
Additional Info
NewTek is transforming the way people create network-style television content and share it with the world. From sporting events, Web-based talk shows, live entertainment, classrooms, and corporate communications—to virtually any venue where people want to capture and publish live video, we give our customers the power to grow their audiences, brands and businesses, faster than ever before.
Clients include: “The X Factor,” ESPN X Games, New York Giants, NBA Development League, Fox News, BBC, NHL, Nickelodeon, CBS Radio, ESPN Radio, Fox Sports, MTV, TWiT.TV, USA TODAY, Department of Homeland Security (DHS), and National Aeronautics and Space Administration (NASA).
NewTek is privately owned and based in San Antonio, Texas. For more information on NewTek please visit: www.newtek.com, Twitter, YouTube, Flickr or connect with us on Facebook.