Faster access to affordable capital for small businesses
CHICAGO, September 13, 2022 /PRNewswire/ — NEWITY, a small business marketplace dedicated to creating equitable access to small business loans and trusted business service providers, today announced the expansion of its lending solutions for include SBA 7(a) loans up to $250,000. This new offering increases access to affordable capital for small business owners who have historically struggled to obtain funds to grow their business.
NEWITY has simplified the 7(a) application to allow small business owners to apply for a business loan in less than 30 minutes. Plus, NEWITY offers phone and virtual support from seasoned SBA professionals through every step of the loan process. Northeast Bank, an SBA approved lender, works with NEWITY to support small businesses by funding SBA loans made available through NEWITY’s portal.
Established to better serve Paycheck Protection Program (PPP) loans, NEWITY found it could do more to support American businesses and underserved communities after the program ended. “Now that the PPP is over, there is an even greater need to support American entrepreneurs,” said Luc LaHaie, co-founder and co-CEO of NEWITY. “After maintaining more than $11.4 billion PPP loans and helping 115,000 small businesses, we are strengthening our commitment to empowering entrepreneurs by expanding the size of our small business loan offering and continuing to work with the SBA. »
“We’re excited to continue leveling the playing field for small business owners,” said David Cody, co-founder and co-CEO of NEWITY. “This broader loan offering is a testament to our continued efforts to be a champion for American entrepreneurs who are otherwise disadvantaged when seeking traditional means of financing.”
NEWITY is America’s small business marketplace, focused on empowering entrepreneurs with access to trusted service providers and affordable lending solutions – all in one place. NEWITY uses advanced technology to help small businesses access services to make their business more efficient and profitable. Today, this includes simplified online accounting with Xendoo to help entrepreneurs easily apply for 7(a) loans; personalized and competitive insurance with Mylo to help businesses meet specific loan requirements; and access to a market of marketing agencies with Breef to enable businesses to use their 7(a) funds more effectively. To join NEWITY’s growing small business community, visit NEWITYmarket.com.