NewtekOne, Inc. (formerly Newtek Business Services Corp.) is a financial holding company that transitioned from a Business Development Company (BDC) structure in early 2023 following the acquisition of the National Bank of New York City. The company operates primarily through its subsidiary, Newtek Bank, N.A., providing a wide array of financial and operational solutions to independent business owners nationwide. Its core revenue drivers include its lending operations, particularly the origination, servicing, and sale of government-guaranteed SBA 7(a) and 504 loans, as well as commercial and industrial (C&I) and commercial real estate (CRE) loans. The company generates significant noninterest income through the sale of the guaranteed portions of these SBA loans at a premium. In addition to its lending portfolio, NewtekOne offers digital banking and depository services, electronic payment processing, payroll management, and insurance solutions. The company leverages its proprietary technology platform, Newtek Advantage, to acquire clients and manage business referrals without relying on traditional branch networks. By combining technology-driven banking with specialized SMB lending, NewtekOne positions itself as a comprehensive financial hub for independent businesses.
