All SBA 7(a) loans provided through NEWITY's platform will have a term of 10 Years / 120 Months. Loan payments will be made monthly and will include principal and interest.
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.