1. Support Center
  2. SBA 7(a) Small Business Loans

Can I consolidate debt with a 7(a) loan?

Yes, by refinancing your existing debt with a 7(a) loan, you only need to pay a monthly repayment. NEWITY will pay-off your existing debt using proceeds from your 7(a) loan. 

To determine if you qualify for an SBA 7(a) loan, get started by submitting the prescreen loan application in your NEWITY account. It takes less than 15 minutes and does not impact your credit score. 

 

 

 

NEWITY LLC and its affiliates are not lenders participating in the SBA’s 7(a) loan program. NEWITY LLC is a lender service provider for Northeast Bank, a lender participant in the SBA’s 7(a) loan program. SBA 7(a) loans are ultimately processed and approved by a lender participant in the SBA’s 7(a) loan program.

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