Yes, if you received an SBA 7(a) loan through NEWITY, you may receive a second loan if you meet eligibility requirements.
SBA 7(a) loan qualifications are viewed in the total amount borrowed through the program, meaning if you received a $250,000 SBA 7(a) loan and you’d like a second $250,000 SBA 7(a) loan, you would need to meet eligibility requirements as if you were applying for a single loan of $500,000.
The maximum SBA 7(a) loan amount you can borrow through NEWITY’s platform is $500,000 in the aggregate.
To get started, log into your NEWITY account and submit our business loan application.
NEWITY LLC and its affiliates are not lenders participating in SBA’s 7(a) loan program. NEWITY LLC is a lender service provider for Northeast Bank, a lender participant 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.