NewtekOne, Inc. 8-K

What Happened

• NewtekOne, Inc. (the Company) disclosed that its subsidiaries Newtek Business Services Holdco 6, Inc. (NH6 Borrower) and NBL SPV, LLC (SPV Borrower) entered into a Term Loan Agreement with D2 Asset Based Credit Partners, LP, Inc. (Initial Lender) and D2 Asset Services, LLC (Agent).
• The Initial Lender extended a $20,000,000 term loan (the Loan) to the Borrowers, which may be increased by an additional $10,000,000 subject to lender consent and conditions. The Loan matures on April 28, 2029.
• The Company unconditionally guaranteed the Borrowers’ obligations under the Loan Agreement. The SPV Borrower pledged certain loans it owns and the NH6 Borrower pledged its equity in the SPV Borrower as collateral. NH6 intends to dividend all or part of the proceeds to the Company for general corporate purposes.

Key Details

• Loan amount: $20,000,000 initial; optional increase up to $10,000,000 (total possible $30,000,000).
• Maturity date: April 28, 2029.
• Lender/Agent: D2 Asset Based Credit Partners, LP, Inc. (Initial Lender); D2 Asset Services, LLC (Agent).
• Security/guarantee: SPV Borrower pledged certain loans; NH6 pledged equity in SPV; NewtekOne unconditionally guaranteed repayment.

Why It Matters

• This transaction provides NewtekOne with additional liquidity (initially $20M) that NH6 may dividend to the Company for general corporate purposes.
• It also creates a new material debt obligation guaranteed by NewtekOne and secured by subsidiary assets, which affects the company’s leverage and collateral profile. Investors should note the loan’s maturity (2029), potential for up to $30M in total borrowings, and the existence of events of default that could accelerate repayment.