To qualify for an SBA 7(a) loan through NEWITY's platform, your business must be:
- In operation for at least 1 year as a for-profit business
- US-based location and operations
- Owner supported / owner funded
- Eligible per the SBA’s requirements
- Loan size determined by average annual revenue of the business and FICO score
To see if you qualify for an SBA 7(a) loan, submit the loan application in your NEWITY account. It takes less than 15 minutes and does not impact your credit score.
If your business does not meet these qualifications, we unfortunately cannot approve your application for funding. We hope to expand our offerings in the future to provide lending opportunities that work for your business.
This information was last updated on: March 15, 2024
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.