Newtek Business secures approximately $300 million in debt financing

Chicago, Dec. 7 – Newtek Business Services Corp. secured approximately $300 million in debt financing from several transactions, according to a press release.

Its new joint venture Newtek-TSO II Conventional Credit Partners, LP closed a $150 million leveraged facility from an investment bank.

Proceeds will be used to fund the acquisition of non-conforming conventional loans made to middle-market companies as well as small businesses.

Additionally, Newtek Business Lending, LLC amended and extended two credit lines with two financing providers for $110 million in total.

Proceeds will be used to fund SBA 504 loans.

Also, Newtek Merchant Solutions amended its existing credit facility for an additional $18 million in availability under its credit line.

Newtek Business Services is a New York-based internally managed non-diversified closed-end management investment company.

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