NewTek announces closure of SBA Small Business Loans

by Moe Bedard to
27 December 2010
Small Business Loans
NEW YORK (Source: Newtek) - Newtek Business Services, Inc. (Nasdaq: NEWT), The Small Business Authority has announced that it had sales of approximately $ 23,000,000 of non-guaranteed portions of SBA has small business loan a closed Securitization Trust. The sale of the trust notes was advised by Guggenheim Securities, LLC, Newtek, and provided investment banking services covered.
Newtek subsidiary Newtek Small Business Finance, Inc., is in the production of U.S. Small Business Administration (SBA) 7 (a) loan is active and is one of the few non-bank lenders currently make small business loans. Newtek rule retains the unguaranteed portion of these loans and with the support of the Guggenheim Securities, the parts could securitize, realization approximately $ 16,000,000 in gross proceeds, which is mainly for making new loans and extinguishing agents Newtek Small Business Finance existing loan can be used with Capital One Bank. Guggenheim Securities played a key role in helping to structure and Newtek were to market the securities, the AA-rating from Standard and Poor's.