Long-Term Loan by Newtek
Procuring financing for business ventures is often challenging for small business owners. From startup phase to the expansion of your business, you may find it difficult to overcome the requirements of traditional bank loans. Newtek may be able to help. Newtek term loans offer flexibility to business owners because financing can be guaranteed for a variety of general business uses including: working capital, debt refinancing, and equipment purchases, just to name a few.
Nav's Verdict
5/10
Bottom Line
Because the terms are unclear, make sure you are aware of the overall cost and repayment. After these have been presented to you, you might want to make sure there are not other options that would be a better fit for your needs.
Pros
High loan amounts and lengthy repayment terms. Loans are structured without balloon payments. Newtek might be able work with your business, even if you are a startup or have below standard credit scores.
Cons
Cost and terms are not published.
Qualification requirements
Business Type
Business must be operated for profit, open to all on a non-discriminatory basis.
Business Restrictions
Business must not be involved in investment real estate, religion, politics or adult entertainment.
Location
Business must be located in the United States or its possessions and owner(s) must be a U.S. citizen(s) or have legal permission to live int he U.S.
Reviews
Reviews Disclosure: The responses below are not provided or commissioned by the credit card, financing and service companies that appear on this site. Responses have not been reviewed, approved or otherwise endorsed by the credit card, financing and service companies and it is not their responsibility to ensure all posts and/or questions are answered.