NewtekOne, Inc. Depositary Shares, Non-Cumulative Perpetual Preferred Stock, Series B (NEWTP) Research

NewtekOne, Inc., operating as a Business Development Company (BDC), delivers a broad spectrum of financial and business services tailored for small and medium-sized enterprises across the United States. The firm engages in both debt and equity investments, with a particular interest in early-stage ventures. Its debt financing options encompass first-lien loans with terms from 1 to 25 years, second-lien loans spanning 5 to 25 years, and short-term unsecured loans typically repaid within 6 to 12 months. Newtek's operations are structured across Electronic Payment Processing, Managed Technology Solutions, Small Business Finance, and Capcos segments. Core offerings include the origination of Small Business Administration (SBA) loans for diverse purposes such as acquiring commercial real estate, machinery, and inventory, refinancing debt, or funding franchises, working capital, and business acquisitions. The company also provides vital loan servicing and consulting for entities like the Federal Deposit Insurance Corporation and other financial institutions, alongside various management services. Its comprehensive electronic payment processing suite features credit and debit card processing, check approval, eCommerce solutions for non-cash payments, check conversion, remote deposit capture, ACH processing, and electronic gift and loyalty card programs. Technology services extend to website hosting (including dedicated and cloud options), web design and development, internet marketing, data storage and backup, and e-commerce functionalities like online shopping cart tools and payment processing. The innovative Newtek Advantage platform offers businesses a mobile, real-time operating system for accessing crucial data – covering eCommerce, credit/debit transactions, website analytics, payroll, insurance, and business loans – directly from smartphones, tablets, laptops, or PCs. Furthermore, Newtek markets a range of insurance products (personal, commercial, health/benefits) and provides payroll management processing and employee tax filing services. Strategic alliances with prominent organizations such as American International Group, Navy Federal Credit Union, and the Credit Union National Association bolster its capacity to offer agent services to its small business clientele. The firm actively seeks investment opportunities primarily within the New York and Louisiana regions. Investment amounts generally range from $0.3 million to $3 million. Specifically, Newtek offers small business term loans from $0.05 million to $10 million, accounts receivable financing between $0.05 million and $1.5 million, and financing for owner-occupied real estate businesses from $0.05 million to $10 million, provided their average net income over the past two years does not exceed $2.5 million. Newtek, originally founded in 1998 and transitioning into a BDC in 2014, maintains its headquarters in Boca Raton, Florida, supplemented by additional offices located in Lake Success, Garden City, and New York City, New York; Miami, Florida; Milwaukee, Wisconsin; and New Orleans, Louisiana.

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