There are many groups that help small businesses access capital. If you’ve read our article about who provides small business loans, you might have noticed the Small Business Administration (SBA) didn’t appear. Contrary to popular belief, the SBA isn’t a direct lender. The SBA supports other lenders in providing access to SBA loans.
It can be difficult to differentiate between organizations that help provide access to SBA loans, especially since many traditional lenders are the same groups that can provide SBA loans.
At NEWITY, we do things differently:
1. We only match you with the best loan option for your business
Unlike other platforms, we’re always going to try to match you with an SBA 7(a) loan, which provides the most competitive terms for small businesses, including low interest rates and favorable repayment terms. If you don’t meet the criteria for an SBA 7(a) loan, we’ll match you with the next best financing option that we have available for you. We’ll never use fees to the underlying lender (or ourselves) as a method to suggest loans to you; we care about finding affordable capital for you.
2. Our technology makes it easy
We’ve streamlined the loan application process – in less than 10 minutes, you can see a potential loan option that fits your business’ criteria without impacting your credit score. Once you’ve selected your loan, most businesses only need to provide three primary documents 1) 2022 personal tax returns, 2) 2022 business tax returns, and 3) the last three months of bank statements to support their application.
3. You can speak with a real person (and they're all based in the U.S.)
While our tech makes the process easy, you can speak to a real person through phone, email, or chat. Our team is 100% based in the U.S. and is eager to help. Plus, you’ll be connected with a single member of our team who will manage your loan throughout the process. Our goal is to provide access to capital for American businesses; helping entrepreneurs is what we do.
4. NEWITY keeps your information private
We take pride in keeping your information private. We’ll never sell your business details or loan interest to other companies or lending goliaths. If you match with an alternative lender on our platform, the lender will not have access to your contact information unless you decide you want to continue with the loan.
We’d be honored to welcome you to our small business community and help you access affordable capital through an SBA 7(a) loan.