Collateral is not required for loans $50k and under. Collateral may be required for loans between $50k and $500k based on the business's balance sheet.
The collateral requirement will be discussed with your assigned Loan Specialist once your application is submitted to best customize an option for your business.
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.