NewtekBank, a subsidiary of NewtekOne, has introduced the Newtek Seven Day Business Loan, a term loan of up to $350,000 that can be funded within seven days of a complete application. The loan carries a ten‑year repayment period, no balloon payment, and is secured with collateral.
The product is powered by NewtekOne’s internally developed NewTracker AI‑driven loan processing system, which automates data gathering, credit analysis, and document review to accelerate underwriting and approval. The AI system is part of the company’s broader strategy to become a technology‑enabled financial holding company.
NewtekOne’s financial performance in 2025 showed revenue growth of 10.6% to $284 million and net income before taxes up 16.4% to $80 million, but the company has faced concerns about its high debt levels. The launch of the new loan product is expected to contribute to further revenue growth and market share expansion, especially as the bank seeks to compete with merchant cash advances and other rapid‑funding options.
The loan offers a more affordable alternative to merchant cash advances, which typically carry high rates and short repayment terms. By providing a structured term loan with a longer repayment horizon and lower payment options, the Newtek Seven Day Business Loan addresses a key pain point for independent business owners seeking predictable financing.
NewtekBank has experienced significant deposit growth, reaching over $1.4 billion as of December 31, 2025, and opened 9,000 new deposit accounts in Q4 2025. The strong deposit base supports the bank’s lending activities and provides a stable funding source for the new product.
NewtekBank is also a major player in SBA lending, ranking as the third‑largest SBA 7(a) lender in the U.S. by dollar approval volume as of February 10, 2026. The new loan product expands the bank’s portfolio of small‑business financing options and strengthens its position in the competitive rapid‑funding market.
Barry Sloane, CEO of NewtekOne, said: "Time is money for independent business owner clients. We are pleased to be able to offer clients a term loan, secured with collateral, of up to $350,000 in just seven days. With the Newtek Seven Day Business Loan, creditworthy borrowers can avoid less attractive options such as MCAs or daily debit financing, which typically carry extremely high rates of interest and short repayment schedules, and get access to a more reasonably priced and structured business loan with dramatically lower payment options than MCA and similar products."
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