BOCA RATON, Fla., July 05, 2022 (GLOBE NEWSWIRE) -- Newtek Business Services Corp., (NASDAQ: NEWT), an internally managed business development company (“BDC”), announced today that Newtek Small Business Finance, LLC (“NSBF”) has funded a record amount of SBA 7(a) loans for the three and six months ended June 30, 2022. For the three months ended June 30, 2022, NSBF funded a record $200.6 million in SBA 7(a) loans, which represents a 112.7% increase over $94.3 million SBA 7(a) loan fundings for the three months ended June 30, 2021. For the six months ended June 30, 2022, NSBF funded a record $363.9 million in SBA 7(a) loans, which represents an 83.2% increase over $198.6 million SBA 7(a) loan fundings for the six months ended June 30, 2021. In addition, for the six months ended June 30, 3022, the Company reaffirmed its forecasts for net investment income (loss) (“NII”) in a range ($0.01) per share to $0.00 per share and adjusted net investment income (“ANII”) in a range of $1.40 per share to $1.50 per share.
Newtek Business Services Corp. Reports Record SBA 7(a) Loan Fundings for the Second Quarter 2022
Provided Content: Content provided by Globe Newswire. The Globe and Mail was not involved, and material was not reviewed prior to publication.
