Newtek Announces Growth in SBA Funding

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In its third quarter financial statements released yesterday, Newtek Small Business Finance, LLC (NSBF) announced that it had funded $122.4 million of SBA 7(a) loans during the three months ended September 30, 2018. This is an increase of about 18% year over year compared to $103.6 million in Q3 2017. The company forecasts full year 2018 SBA 7(a) loan funding of between $465 million and $485 million.

“We are extremely pleased to report yet another strong quarter, with double-digit year-over-year percentage growth,” said NSBF Chairman, President and CEO Barry Sloane.

Last modified: November 9, 2018

Category: Industry News

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