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

Does debt refinance cover prepayment penalties?

Yes, the total repayment amount of your existing debt will be paid directly by NEWITY to the loan-holder to pay that debt in full.  

The balance of your SBA 7(a) loan will be sent to your account for your use.  

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




NEWITY LLC and its affiliates are not lenders participating in SBA’s 7(a) loan program.  SBA 7(a) loans are ultimately processed and approved by a lender participant in SBA’s 7(a) loan program.