Newtek Small Business Finance, Inc.
SBA 7(a) Lending Profile · FY 2023 analysis
Industry Focus
Top industries served by Newtek Small Business Finance, Inc. · FY 2023
| NAICS | Industry | Loans | Volume | Avg Loan | Share |
|---|---|---|---|---|---|
| 722511 | Full-Service Restaurants | 73 | $40.5M | $555K | 6.7% |
| 722513 | Limited-Service Restaurants | 32 | $12.3M | $385K | 2.9% |
| 722515 | Snack and Nonalcoholic Beverage Bars | 29 | $15.6M | $539K | 2.7% |
| 812112 | Beauty Salons | 25 | $14.8M | $592K | 2.3% |
| 236118 | Residential Remodelers | 22 | $24.1M | $1.1M | 2.0% |
| 238220 | Plumbing, Heating, and Air-Conditioning Contractors | 22 | $13.9M | $631K | 2.0% |
| 713940 | Fitness and Recreational Sports Centers | 20 | $7.8M | $392K | 1.8% |
| 238210 | Electrical Contractors and Other Wiring Installation Contractors | 19 | $16.5M | $867K | 1.8% |
| 561730 | Landscaping Services | 18 | $15.8M | $877K | 1.7% |
| 624410 | Child Care Services | 18 | $10.4M | $576K | 1.7% |
Geographic Distribution
SBA lending activity for Newtek Small Business Finance, Inc. by state
| State | Loans | Volume | Share |
|---|---|---|---|
| California (CA) | 160 | $131.1M | 14.7% |
| Florida (FL) | 159 | $94.3M | 14.7% |
| Texas (TX) | 106 | $66.0M | 9.8% |
| New York (NY) | 81 | $38.4M | 7.5% |
| New Jersey (NJ) | 47 | $28.7M | 4.3% |
| Illinois (IL) | 35 | $23.7M | 3.2% |
| Michigan (MI) | 30 | $19.7M | 2.8% |
| North Carolina (NC) | 22 | $19.5M | 2.0% |
| Nevada (NV) | 25 | $18.6M | 2.3% |
| Virginia (VA) | 34 | $18.1M | 3.1% |
| Georgia (GA) | 31 | $17.6M | 2.9% |
| Alabama (AL) | 11 | $16.7M | 1.0% |
| Pennsylvania (PA) | 28 | $15.5M | 2.6% |
| Arizona (AZ) | 24 | $14.6M | 2.2% |
| Louisiana (LA) | 19 | $14.0M | 1.8% |
| Washington (WA) | 20 | $13.7M | 1.8% |
| Tennessee (TN) | 20 | $12.8M | 1.8% |
| Oklahoma (OK) | 5 | $11.2M | 0.5% |
| Massachusetts (MA) | 19 | $10.8M | 1.8% |
| Colorado (CO) | 24 | $8.9M | 2.2% |
| Connecticut (CT) | 18 | $8.4M | 1.7% |
| Ohio (OH) | 14 | $8.4M | 1.3% |
| Utah (UT) | 8 | $7.1M | 0.7% |
| Indiana (IN) | 11 | $7.0M | 1.0% |
| Maryland (MD) | 20 | $6.3M | 1.8% |
| South Carolina (SC) | 19 | $6.1M | 1.8% |
| Wyoming (WY) | 2 | $5.3M | 0.2% |
| Wisconsin (WI) | 7 | $4.9M | 0.6% |
| Iowa (IA) | 5 | $4.6M | 0.5% |
| Oregon (OR) | 11 | $4.5M | 1.0% |
| Missouri (MO) | 13 | $4.0M | 1.2% |
| Alaska (AK) | 5 | $3.6M | 0.5% |
| Hawaii (HI) | 5 | $2.8M | 0.5% |
| New Mexico (NM) | 5 | $2.4M | 0.5% |
| Kentucky (KY) | 7 | $2.1M | 0.6% |
| Rhode Island (RI) | 2 | $2.0M | 0.2% |
| West Virginia (WV) | 3 | $1.4M | 0.3% |
| New Hampshire (NH) | 5 | $1.3M | 0.5% |
| Mississippi (MS) | 3 | $1.1M | 0.3% |
| District of Columbia (DC) | 3 | $1.1M | 0.3% |
| Arkansas (AR) | 3 | $880K | 0.3% |
| Vermont (VT) | 3 | $766K | 0.3% |
| Idaho (ID) | 3 | $670K | 0.3% |
| Minnesota (MN) | 2 | $356K | 0.2% |
| Kansas (KS) | 3 | $330K | 0.3% |
| Nebraska (NE) | 2 | $150K | 0.2% |
| Montana (MT) | 1 | $150K | 0.1% |
| Maine (ME) | 2 | $125K | 0.2% |
Why Choose Newtek Small Business Finance, Inc.?
Based on SBA 7(a) lending track record in FY 2023
- ✓Proven Track Record: 1,085 SBA loans approved, totaling $681.7M in financing
- ✓Industry Expertise: Specialized focus on Full-Service Restaurants, Limited-Service Restaurants, Snack and Nonalcoholic Beverage Bars
- ✓Competitive Terms: Average interest rate of 10.63% with flexible term lengths averaging 132 months
- ✓Loan Range: Loan sizes from $10K to $5.0M, with an average of $628K
- ✓Nationwide Reach: Active lending in 48 states, with strong presence in CA, FL, TX
Note: Approval and terms are subject to SBA and lender requirements. This profile is based on historical data and does not guarantee future lending decisions.
Frequently Asked Questions
Common questions about Newtek Small Business Finance, Inc. SBA lending
What types of businesses does Newtek Small Business Finance, Inc. typically finance?
Newtek Small Business Finance, Inc. specializes in SBA 7(a) lending to specific industries including full-service restaurants, limited-service restaurants, snack and nonalcoholic beverage bars, beauty salons. They have developed expertise in these sectors and understand the unique financial characteristics of each industry.
What are Newtek Small Business Finance, Inc.'s typical SBA loan terms?
Newtek Small Business Finance, Inc.'s SBA 7(a) loans typically feature an average interest rate of 10.63% and average term length of 132 months (approximately 11 years). Loan sizes range from $10K to $5.0M, with an average loan size of $628K.
Do I need a business valuation for a Newtek Small Business Finance, Inc. SBA loan?
Yes, Newtek Small Business Finance, Inc. typically requires a professional business valuation for SBA loans over $250,000 or for change-of-ownership transactions. A certified valuation helps establish the purchase price, loan amount, and ensures SBA compliance. The valuation typically costs $5,000-$15,000 depending on business complexity.
How does Newtek Small Business Finance, Inc. compare to other SBA lenders?
Newtek Small Business Finance, Inc. has originated 1,085 SBA loans totaling $681.7M in FY 2023. They distinguish themselves through industry specialization and expertise in their focus sectors. Compare their rates and terms with other lenders in our Commercial Lending Directory.
What states does Newtek Small Business Finance, Inc. lend in?
Newtek Small Business Finance, Inc. provides SBA 7(a) financing with particularly strong presence in CA, FL, TX, NY, NJ. Based on their lending history, they have experience with diverse state-specific business regulations and licensing requirements.
Research Your Target Industry Before Applying
Before applying for SBA financing, research your industry's typical loan sizes, approval rates, and specialized lenders. Understanding industry-specific financing patterns can help you find the right lender and strengthen your application.
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