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Newtek Small Business Finance Review

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Newtek Small Business Finance Review

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Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.

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Date Established
1998
Location
Lake Success, NY
Erica Seppala

Erica Seppala

Erica is a writer based in Greenville, South Carolina. She is a graduate of Limestone College. Initially determined to be an accountant, she put away the calculator and picked up a laptop to pursue her dream of being a writer. Erica has spent the past 10 years writing blogs and articles for hundreds of private clients, and she loves sharing her love of research and the written word with everyone around her.



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3 Comments

Responses are not provided or commissioned by the vendor or bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the vendor or bank advertiser. It is not the vendor or bank advertiser's responsibility to ensure all posts and/or questions are answered.

    Lauren

    Newtek is a very incompetent lender. They made me miss the PPP loan from the government because their employee was on maternity leave. Then to make matters worse they deleted my original application which we put in on April 3, 2020. Newtek is horrible to deal with and extremely slow to respond. DO NOY USE THIS COMPANY FOR ANY LOAN.

    1
      Nathaniel J Frank

      Organization Name: MToxins Venom Lab LLC

      I did a large scale SBA loan with Newtek and found them to be professional and courteous. We had an excellent account manager who did a great job communicating and was extremely fun to work with. SBA loans are a lot of paperwork, I mean, it’s a federal loan and that is not Newtek’s’ fault. So, if you’re going for a SBA loan make sure you know just how much paperwork is involved. Newtek helped me navigate through the paperwork and frustrations therein. I cannot say enough good things about this company and if you are well educated in the process, respectful, and willing to put in the effort, I believe anyone will find Newtek a great resource to help you grow your business.

      5
      • Organization Name: MToxins Venom Lab LLC

      This comment refers to an earlier version of this review and may be outdated.

      Will Pflaum

      Organization Name: Glencadia Corporation

      I took out a small business administration loan administrator through Newtek. They never sent me a statement and when a payment went missing- which I repaid right away- they put all kinds of punitive fees on me and when I refused to pay those unfair fees, they moved immediately to “liquidate” me… how lovely! I think the fact that the SBA will repay them 85% immediately they have an incentive to be jerks to the lender.

      1
      • Organization Name: Glencadia Corporation

      This comment refers to an earlier version of this review and may be outdated.

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