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 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.