Debt refinance allows borrowers to replace existing debt with new debt that has more favorable terms.
At NEWITY, you may be eligible to pay off your existing high-interest rate debt with a lower-interest rate SBA 7(a) loan. If you qualify, NEWITY would pay off your high-interest rate debt using some of the proceeds from your new SBA 7(a) loan. You could use the balance of your SBA 7(a) loan for eligible working capital expenses.
To determine if you qualify for an SBA 7(a) loan, get started by submitting the loan application in your NEWITY account. It takes less than 10 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.