PPP lender · derived table
Newtek Small Business Finance, Inc.
Profile → Newtek Small Business Finance
Newtek Small Business Finance, Inc. appears in the SBA PPP loan-level file with 26,174 loans and $1.9 billion in approved dollars, an average of $72,221 a loan. That is 0.23% of the 11,468,171 loans in our per-lender totals (39 fewer than the 11,468,210 in the SBA file), rank 75 of the 500 largest lenders by approved dollars and rank 50 by loan count. Borrowers on those loans reported 201,150 jobs, 7.7 a loan, and $9,398 of approved dollars for each reported job.
Totals
| Loans | 26,174 |
| Approved dollars | $1,890,317,324.50 |
| Average loan | $72,221.19 |
| Share of program loans | 0.2282% |
| Rank by approved dollars | 75 of 500 |
| Rank by loan count | 50 of 500 |
| Jobs reported | 201,150 |
| Jobs per loan | 7.6851 |
| Approved dollars per reported job | $9,397.55 |
| Borrowers | 23,391 |
| Loans per borrower | 1.119 |
| Lender type (archive classification) | Fintech / BaaS bank |
| Modeled processing fees | $87,758,878.46 |
| Modeled fees, 2020 first-draw loans | $37,757,506.96 |
| Modeled fees, 2021 first-draw loans | $20,801,281.50 |
| Modeled fees, 2021 second-draw loans | $29,200,090 |
| Modeled fee per loan | $3,352.90 |
| Rank by modeled fees | 62 of 4,688 originating lenders |
Named in the archive
None in the archive: no court filing or source document carries this name in its title or description.
In the lender's filings
Newtek Small Business Finance, Inc. (NSBF) is being wound down. The 10-K of its parent, NewtekOne, Inc., for the fiscal year ended December 31, 2023 (filed April 1, 2024) says NSBF "has begun to wind-down its operations," that its pipeline of new SBA 7(a) loans "was transitioned to Newtek Bank during the second quarter of 2023," that NSBF "will continue to own the SBA 7(a) loans and PPP Loans currently in its SBA loan portfolio to maturity," and that the bank's subsidiary SBL "will service and liquidate NSBF's SBA loan portfolio, including processing forgiveness and loan reviews for PPP Loans, pursuant to an SBA approved lender service provider agreement" (NewtekOne, Inc., Form 10-K, fiscal year ended December 31, 2023).
The same filing puts NSBF's program total at "approximately 10,570 PPP loans totaling $1.19 billion." The company's 10-K for the fiscal year ended December 31, 2022 (filed March 16, 2023) said that through the end of July 2021 NSBF funded "approximately 26,200 PPP loans" totaling $1.9 billion; the SBA file above counts 26,174.
Data and method
Totals come from SBA's PPP loan-level file (FOIA release of 2024-09-30); ranks are among its 4,688 named originating lenders. Modeled fees are computed loan by loan from SBA's published fee schedule, because SBA never published what it paid each lender. Jobs are self-reported; dollars are approved, not disbursed; the totals leave out 39 source rows. The per-lender totals page has the full method.