BackSummary
NewtekOne subsidiary entered a $20M term loan agreement, with potential $10M increase, for general corporate purposes.
Key takeaways
- NewtekOne subsidiary obtained $20M term loan, expandable by $10M with lender consent.
- Loan matures April 28, 2029; proceeds may be dividended to parent for general corporate use.
- Collateral includes SPV Borrower's loans and NH6 Borrower's equity in SPV.
- Company provided unconditional guarantee of all obligations under the loan agreement.