Customer ReviewsforNewtekOne, Inc.

This lender is a nightmare!!! one year later they have spent making excuses and asking for outrageous requests they never close on the loan but always have a reason. They ask for their name to go one everything I own as well as my Life insurance policies. Manufacture issues to delay closing. Completely disreputable!!!!! The ability to do business need revoked. They charge you their fee but you never get funded *** picked a star as is required to submit the review

Stay away will waste your time!!!We applied with them for an SBA 7a loan on 2/26/24. Today is 6/12/24. Spent 4 MONTHS sending literally hundreds of documents (3 years financials, tax returns, bank statements for every company the owners are part of (outside of the company applying), for each owner personally and then securing over 350% of the loan with receivables, real estate, UCC filings, blanket liens, et al). During this time we had multiple underwriters on the file, one that never returned emails or calls and had to be "replaced", we were asked for the same docs multiple times. We were finally "APPROVED", not for an SBA loan, which we thought we were applying for, but an internal bank loan.Ok fine.For the record this is for a 2M loan and our company has over 60M a year in revenue and profit well over 2M a year and they were using as collateral 5M in receivables and over 2.2M in real estate, so no risk to them at all. Financials are spotless going back 7 years and credit scores for all principals are 800+.We go to sign the docs, and one of the properties on the lien request is under development (separate investment company for one of the owners, using their own personal money, normal construction, interest only deal that is already funded) We have other property to make up for the collateral request so we think nothing of it.Nope, two weeks later after multiple emails and calls asking a million more questions and asking for even more docs, now we are declined.. what a j o k e...DO NOT WASTE YOUR TIME THIS COMPANY IS UNORGANIZED AND HORRIBLE AT COMMUNICATION EVEN WITH A VERY WELL CAPITALIZED CLIENT WITH ZERO RISK TO THEM

I do find Newtek bank to be very deceptive and dishonest, not to mention misleading. I opened an account last week and I linked my bank account for them to take the deposit to set up the account.They debited my account the $10.00 to set up the account, and told me the account was set up.The day after they sent me an email ,saying it was opened in error and it will be closed.The account was close, however they did not return my deposit and for the past week Mr. ************************ have been give me the run a round to get my deposit back I would appreciate if you bank would have the common decency to return my money and stop making excuse. The same way you debit my account , the same way you can credit it back.The amount might be small, but its the principle. How many people have you done this to ?Please return my money. Mr. *********************** and ************************* is aware of this.Thanks.***********************

I had the privilege of collaborating with Eileen ******** on a highly intricate project, and her level of assistance was truly exceptional. Eileen displayed a remarkable sense of partnership and consistently surpassed my expectations, going above and beyond in every aspect. Newtek is exceedingly fortunate to have Eileen as a leader on their esteemed team. Moreover, my experience working with numerous other Newtek leaders was equally remarkable and truly exceptional.

********************************* and *************************** were amazing in helping me get a new loan!

Scott, Nikki and their Team was Awesome and were on top of everything and always followed up throughout the process. Definitely will use them again on the next property or deal.

Excellent working with Newtek and specifically Scott Christophers. We spoke with many lending firms for the SBA 7 loan prior to speaking with Newtek. We were turned down before other lenders giving us a shot at explaining our business and the future of the podcasting industry. We had multiple meetings with Scott and his team. Scott was always responsive, straightforward, worked with us through all the paper work needs, gave suggestions and made this process that started so rocky with other lenders very smooth and fun to work with as well. I highly recommend Newtek as a lender and will happily work with Scott and his team in the future if the needs arise.

We acquired a small business loan through Newtek in 2015. It was a lengthy process and quite difficult, we almost lost our purchase . Fast forward to July **** we sold our business , mortgage release letter in hand. November 2 we still have not received titles to 2 vehicles that were held for collateral. Our rep from Newtek ******* joked about one title took an entire year to get released. This is theft in my opinion. I have 2 vehicles I cannot drive or sell. Last conversation with ******* he said oh they were released. Pa ********** of transportation said its a simple phone call. How this company advertises to help small businesses is beyond me.

SBA loans are very time consuming and require a lot of documentation. What is also required is an advocate at the lending firm you decide to go with. I had just that at Newtek with Scott. He was able to get me prequalified and made sure I had all of the information I needed to proceed with the application process. Through his help and advocacy, I am now able to take my business to the next level. I also worked with Deborah, who was very helpful and readily available to answer my questions during the closing process. Everyone I've dealt with at Newtek has been courteous, professional, and helpful.

Every time I try to pay extra principal on my SBC Loan, this company screws up. You can try to call but it never goes through and the emails never get returned. Horrible company to do business with. **************** is non-existent.On the good side, they did process the loan very fast, but servicing the loan is a bad experience.